Mmk

MMK Metalurji, part of the MMK Group, announced a new appointment. Sergei Sulimov, deputy general director for company relations at MMK Group, has been named acting general director of MMK Metalurji. Yury Bodyayev, previously general director of MMK Metalurji, will return to his position as director of production at MMK. MMK CEO Boris Dubrovsky said: "These changes are driven by the new goals facing MMK Metalurji. Yury Bodyayev oversaw changes to production at MMK ...

Testing laboratory of MMK, JSC has successfully passed the accreditation procedure for technical competence in GOST R system. Certification commission recommended to the Federal Agency of technical regulating and metrology accredited testing laboratory of MMK, JSC for technical competence in the testing of ferrous and non-ferrous metals and alloys, steel products, iron ore, refractory materials and products, as well as fuel-lubricants, paints and other polymeric materials. Since ...

United Shipbuilding Corporation (USC) and Magnitogorsk Iron & Steel Works (MMK) have signed a strategic cooperation memorandum targeting joint scientific and technical projects to develop existing and new types of products for shipbuilding, as well as optimizing the logistics chains of metal products deliveries from MMK to USC production sites. USC President Roman Trotsenko said: “The shipbuilding industry, I assume, is the most metal-intensive industrial sector. We at USC ...

Magnitogorsk Iron and Steel Works, JSC announced the execution of a Scheme Implementation Agreement to effect the acquisition of Flinders Mines Limited (ASX: FMS) by MMK. MMK has offered to acquire 100% of the issued shares in Flinders at $0.30 cash per share (“Offer”), implying a fully diluted value for Flinders of approximately $554 million. Flinders’ Board of Directors unanimously recommends that all Flinders shareholders vote in favor of the acquisition. ...

Magnitogorsk Iron and Steel Works, JSC successfully completed the recertification audit of quality management system in compliance with international standards ISO 9001:2008 and ISO/TC 16949:2009, as well as inspectional audit to meet the standard of STO Gazprom 9001:2006. Within a week the audit committee of international certification team TUV NORD CERT and Paritet, Ltd. held a series of tests on processes designed to manufacture high quality products. The audit covered almost all ...

The main contribution to the formation of science and technology policy and implementation of innovative activity in the MMK, JSC makes scientific and technical center. Its structure includes the Central Laboratory of plant’s control, patent-licensing group, and a research and development group. Boris Dubrovsky, Director General of MMK, JSC stated that, the centers work is oriented on several different areas. The key one is the development of production technologies and the ...

The audit process of flat steel production was held at the Magnitogorsk Iron and Steel Works (MMK, JSC), carried out by Spanish company Gonvarri, representing the interests of Volkswagen AG. Technical audit of flat steel production was the result of Victor Rashnikov, President of MMK Management Company’s visit to Gonvarri plant located in Spain. As a result of this visit, specialists of Gonvarri (part of Gestamp Corporation) conducted an audit of products and production ...

Specialists from the Ford Motor Company conducted an independent audit at Magnitogorsk Iron & Steel Works to evaluate the process of rolled products manufacturing The audit involved almost every division of the plant. The Ford Motor Company specialists visited the oxygen converter, the color-coating line, as well as mills No. 5, 10, and 11, which are all involved in production of rolled products for the automotive industry. MMK presented its production capacities and samples of ...

On September 21st, visiting meeting of “Gazprom”, JSC with representatives of the leading Russian metallurgical and pipe companies was held in Chelyabinsk. Director General of “MMK”, JSC Boris Dubrovsky attended this meeting. Forum participants discussed cooperation results of sheet metal strips and pipe manufacturers for “Gazprom”, JSC; as part of implementation of development strategy of Russian gas transportation system. One of the discussed ...

As part of the deal, the two companies have agreed on pricing for the raw material based on current market indicators and price dynamics on the global iron ore market. Metalloinvest’s Mikhailovsky Mining and Processing Plant will be supplying iron ore to Magnitogorsk Iron & Steel Works (MMK) for as long as three years. “This contract underscores our strategy to be a preferred provider of iron ore to Russia’s leading metallurgical companies," said Eduard Potapov, ...

“Magnitogorsk Iron & Steel Works, JSC, explores possibilities to increase supply of Mill 5000 rolled products not only to pipe manufacturers, but also for the needs of shipbuilding, bridge building companies as well as manufacturers of boilers”, said Dmitry Usanov, Director of Strategic Development, “Magnitogorsk Iron & Steel Works”, JSC. According to Mr. Usanov, monthly capacity of this market in Russia exceeds 100k tons, and Magnitogorsk Iron & ...

Magnitogorsk Iron and Steel Works OJSC (”MMK”), and GMCS Company today announced the pilot commissioning of a productive-economic planning system based on the JDA® Supply Chain Planner. The project is intended to optimize production and economic operations, which is a key component of MMK's long-term strategy to consolidate its leading position in the Russian and global steel markets. The main objective of the project is to increase the efficiency of sales and ...

On July 26, 2011 MMK placed its RUR 5 bln bonds (series ÁÎ-07) with the maturity period of 1092 days (3 years). The offer for the issue is not provided. The issue is included in the list “Á” at MICEX. The total value of demand from investors equaled to RUR 7.7 bln which translates into more than 1.5x oversubscription. The first coupon rate was set based on the results of a coupon rate tender held at MICEX. 44 bids were sent for the tender with coupon rate varying from ...

Magnitogorsk Iron and Steel Works (MMK) launched its Mill 2000 – the first stage of a new cold rolling complex - during Russian Prime Minister Vladimir Putin’s visit to MMK today. Mill 2000, with 2 mtpa capacity of finished products, will primarily produce high-quality cold-rolled and galvanized steel to be used in the production of exterior and interior car parts, as well as for use by home appliance manufacturers and the construction industry. MMK’s total ...

Commissioning of continuous hot-dip galvanizing unit at MMK-Atakas Istanbul site marks final stage of project. Today Magnitogorsk Iron and Steel Works (MMK) announced the launch of the MMK-Atakas continuous hot-dip galvanizing unit in Istanbul. This marks completion of construction of the MMK-Atakas metallurgy complex, which is located at two sites: in Iskenderun and Istanbul. The construction of the Iskenderun facility was completed in spring 2011. The Istanbul plant’s ...

Q1 2011 FINANCIAL PERFORMANCE HIGHLIGHTS:  MMK Group Q1 2011 sales amounted to USD 2,216 mln, 14% higher than Q4 2010.  Q1 2011 cost of sales rose 11% q-o-q, amounting to USD 1,775 mln.  Operating profit in Q1 2011 was USD 155 mln, 1.5 times higher than the previous period.  Q1 2011 EBITDA totaled USD 403 mln.  Q1 2011 EBITDA margin stood at 18.2%.  Profit for ...

Magnitogorsk Iron and Steel Works (MMK) has successfully passed technical audit completed by Renault. As a result, MMK has received the French carmaker’s approval that allows the steelmaker to ship its hot-rolled galvanized steel designed for inner parts of Renault automobiles. Approval of the MMK technologies is yet another benchmark in the process of steel acceptation by the company’s potential customers. In the past few years MMK has been successfully implementing ...

OJSC ChelPipe and OJSC Magnitogorsk Iron and Steel Works (MMK) are creating their joint rolling stock to ensure timely deliveries of steel plate from MMK’s Mill 5000 to ChelPipe’s Vysota 239 production unit. Implementation of this project has become part of strategic cooperation between the two companies. The decision to launch this initiative was made in 2007 when Mill 5000 and Vysota 239 were still under construction. ChelPipe and MMK jointly acquired forty-four 12-meter ...

SOLID RESULTS IN 12M AND Q4 2010: MMK Group 2010 sales amounted to USD 7,719 mln, exceeding 2009 level by 52%. 2010 EBITDA reached USD 1,606 mln, which is 23% higher compared to 2009. 2010 EBITDA margin at 21%. Profit for the period for 2010 amounted to USD 232 mln, which is 6% higher y-o-y. Share of MMK Group higher value added (HVA steel) products grew to 34% in 2010 from 27% in 2009. MMK Group Q4 2010 sales reached USD 1,944 mln, ...

Magnitogorsk Iron and Steel Works analyzed results of 2010 labor protection program. The analysis showed that the labor protection at all the divisions of the Works was carried out in accordance to the Acting Law of the Russian Federation. The industrial safety management system and labor protection at the Works are certified in compliance with OHSAS 18001:2007 international standard. The total cost of the labor protection program in 2010 reached 405.7 M rubles.