Mmk. March

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.  

MMK announces signing of the share purchase agreement to acquire 50 percent minus one share of MMK-Atakas from the Atakas Family. The agreement price is USD 485 million. Thus, MMK will be able to consolidate 100% shares in the Company. The transaction is expected to be completed by November 01, 2011. The completion is subject to obtaining necessary permissions and approvals. “Consolidation of the 100% control in MMK-Atakas by MMK is part of the MMK strategy aimed at ...

On March 03, 2011 MMK placed its RUR 5 bln bonds (series BO-04) with the maturity period of 1092 days (3 years). The offer for the issue is not provided. The issue is included in the list “B” at MICEX. The total value of demand from investors equaled to RUR 8.746 bln which translates into 1.75x oversubscription. The first coupon rate was set based on the results of a coupon rate tender held at MICEX. As the result the annual coupon rate was set at 7.65%, which equals to ...

MMK posted the 2010 results of its Environmental Program implementation today. In pursuit of a better ecology by reducing and preventing harmful impact on the environment the company implemented 35 special projects for the total of over 2.2 billion rubles (over $73 mln). Most of the projects were aimed at developing increasingly safe water and gas purification systems and waste disposal facilities. MMK said it would work on ten additional projects of the kind in 2011. As a ...