Mmk

The results reflect MMK (parent company) operations only and may vary significantly from the consolidated financial results under IAS. . * MMK RAS sales rose by 26% in Q2 2010 q-o-q and amounted to RUR53.117 bn. * MMK net profit under RAS net revaluation of investment in securities increased by 24% in Q2 2010 to RUR4.678 bn. * Share of HVA products grew in Q2 2010 from 30% to 35% q-o-q. Key Q2 2010 operational highlights : * Crude steel output amounted to 2.984 mln ...

The share of high value added products in the MMK production program reached 32% in 1H 2010. During this period MMK produced 1642kt of high value added products (against 968kt in 1H 2009) including 556tk of cold-rolled sheets, 680kt of high conversion products, and more than 400kt of products manufactured on 5000 Mill. Thus, the share of high value added products in the MMK production program reached 32%. The company’s press-service reports that the increase in production has become ...

Rating agency Moody's Investors Service has changed the outlook for Magnitogorsk Steel OJSC's ("MMK") Ba3 corporate family rating and the outlook on MMK's Aa3.ru national scale rating to positive from stable. This rating action reflects the fact that in spite of negative global conditions for steel producers in 2009, the company demonstrated stable financial results as evidenced by modest leverage and sound profitability. Overall, the company's recent financial results ...

MMK and ChTPZ signed an agreement on cooperation - «Plate Mill 5000 - Height 239» till 2015 in order to provide Russian oil and gas companies with high quality pipes for construction of new major pipelines and reconstruction of existing pipelines. The parties will cooperate in terms of supplies of steel from MMK Plate Mill 5000 to the large-diameter pipes making shop Height 239 of ChTPZ. Plate Mill 5000 is a state-of-the-art rolling mill with annual capacity of 1.5 mln ...

TARGET INVESTMENTS IN EFFECTIVE PRODUCTION AND COAL ASSETS ENABLE MMK TO DEMONSTRATE IMPRESSIVE GROWTH FROM THE BEGINNING OF 2010 …   Q1 2010 Q1 2009 +/- Sales of MMK Group 1 652 965 687 EBITDA * 364 99 ...

MMK tested its ecological management system in Q1, 2010 which had been certified for compliance with ISO 14001: 2004. The tests were taken to find the ways of improving the ecological management system and increasing its efficiency. Certain ecological showings had been  set up for 2010 which were fully reached in Q1, 2010. The total emissions to the atmosphere in Q1 2010 reduced by 3.322kt (5.9 %) as compared to the corresponding period of 2009 while output in Q1 2010 increased by ...

The results reflect MMK (parent company) operations only and may vary significantly from the consolidated financial results under IAS. . -MMK produced 2.453 mln tons of finished products in Q1 2010 -MMK revenue under RAS increased by 6% compared to Q4 2009 and amounted to RUR 42.143 bn in Q1 2010 -MMK net profit under RAS amounted to RUR 6,310 bn in 2010 Key Q1 2010 operational highlights • Crude steel output in Q1 2010 amounted to 2.732 th. tons, ...

Production Q1 2010 Q4 2009   `000 tons `000 tons % Cast iron 2 235 2 239 0% Crude steel 2 732 2 558 7% Finished products output 2 453 2 327 5% Production Q1 2010 Q4 2009   `000 tons ...

Magnitogorsk Iron and Steel Works (MMK) has retained the leadership in Russia among steelmakers with 17% market share in 2009. MMK sales under RAS amounted to RUR 137.317 bn in 2009. MMK net profit under Russian Accounting Standards ( RAS) increased by 170% to RUR 27.406 bn in 2009. According to MMK press-service, the results reflect MMK (parent company) operations only and may vary significantly from the consolidated financial results under IAS. Crude steel output amounted to 2.6 mln ...

CEO of MMK Viktor Rashnikov has signed the order about the indexing salaries for employees of the Magnitogorsk Iron and Steel Works (MMK). Increasing of salaries will start from March 1. It is fulfilled under the approved program of growth of salaries for employees of MMK. In 2010 tariff rates and salaries of employees will grow by 10%. It is the first increasing of salaries on MMK in this year. If they implement production program, the total increasing of salaries in 2010 ...

Today MMK commissioned the Secondary Steel Treatment Complex at the Oxygen Converter Shop. The state-of-the-art high-tech complex is a part of the technological process for production of highly competitive products, meeting international standards. In particular, the treated steel will be used for production of high quality pipe steel grades with strength characteristics up to X120. Commissioning of the complex will allow to cast crude steel at continuous slab casting machine #6 in ...

Reportedly, Intercos-IV will commission the first order of steel-making facilities for the automotive industry at Izhora Plants in autumn 2010. According to the plan the second order will be commissioned in 2011. The first order project investment cost reaches about 4B rubles. The total production area will cover 48 hectares. Dies and molds manufacturer and a steel service center, Intercos-IV is a sister company of Magnitogorsk Iron and Steel Works (MMK). The total investment in the ...

On February 12, 2010 the Board of Directors of MMK decided on the date of the annual general shareholders' meeting - May 21, 2010. It also approved ZAO “Status” as Company’s registrar. The Board approved of the following agenda for the General Shareholders' meeting: 1. Approval of the Company's 2009 annual report; annual financial statements, including statement of profit and losses; allocation of profit, including dividend payment (declaration), and losses for the ...

Magnitogorsk Iron and Steel Works (MMK) has announced a successful passing of an independent expertise (determination) of its project “Mastering of Electric Steel-Melting Method at MMK” for compliance with Kyoto Protocol. The total reduction of greenhouse gasses emission in the project reached 7.4M tons in 2008-2009. The expertise was held by Bureau Veritas Certification Holding SAS. Basing on the positive conclusion of the auditing company MMK is ready to apply for ...

Round the clock building of out-of-furnace steel treatment complex, part of plates rolling complex continues in the oxygen-converter plant, Magnitogorsk Iron and Steel Works. At the end of January testing of furnace-ladle unit was performed. Now SMS-Mevac GmbH contract supervisors perform initial run and test the software. Building and assembling have been almost completed at the vacuum plant. Its testing under the supervision of German specialists is planned for the second decade of ...

  Production Q4 2009 Q3 2009   FY 2009 FY 2008   ‘000 tons ‘000 tons % ‘000 tons ‘000 tons % Cast iron 2 239 2 326 -4% 8 163 8 541 -4% Crude steel 2 558 2 831 -10% 9 618 ...

Mr. Dmitry Pumpyansky paid a business visit to MMK on Monday, January 18, 2010. MMK and TMK extend their partnership in agreement with the Memorandum on strategic cooperation till 2015 which was signed on February 08, 2007. Mr. Pumpyansky visited new production facilities of MMK – continuous slab casting machine (CSCM ¹6) which was commissioned on December 30, 2009 and Mill 5000. During the meeting, Mr. Rashnikov and Mr. Pumpyansky discussed the results of cooperation in ...

The equipment supply contract for CSCM #6 was signed with SMS Demag in November, 2006. The engineering of the project was carried out by OJSC “Magnitogorsk Gipromez”. General contractors for the project were OJSC “Prokatmontazh”, OJSC “Stroitelny Komplex”, and OJSC “PO Montazhnik”. The designed capacity of CSCM #6 is up to 1.6 mln tons of slabs with width range 1400 – 2700 mm, thickness 190 mm, 250 mm, 300 mm. The maximal slab ...

HIGH EFFICIENCY AS A RESULT OF DEVELOPMENT STRATEGY MMK showed the highest sales growth in Q3 2009 compared to Russian peers – sales went up by 35% q-o-q EBITDA growth exceeded sales growth rate and amounted to almost 50% MMK is the only steel-making company to have worked without losses in 9M 2009 Efficiency of MMK Group parent company continued to grow and reached record levels of EBITDA margin: 28% for Q3 2009 and 24% for 9M 2009 MMK demonstrates ...

In 2010 Magnitogorsk Iron and Steel Works plans on increasing manufacture of commercial products by 28% to 11.2 mln tons. According to E. Kovtunov, MMK production will exceed 12 mln tons. Growth of production in 2010 will be achieved mainly due to Mill 500 reaching its design capacity and operating polymer coatings line N2, commissioned in July 2009. Growth in production will be ensured due to increased charge of long products facilities, however, the total long products manufacture is ...