Mmk. November

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 ...