16 October ‘17

MMK’s economic effect of innovation increases by 18%

In total over the 9-month period over 4,000 suggestions were submitted, out of which 2,673 ideas were approved for implementation – 61.8% of the total suggestions submitted. The corresponding implementation level for 2016 was 57.4%, showing an improvement in the quality of suggestions submitted by employees. The total remuneration paid to employees for submitting ideas exceeded RUB 15 mln. A quarter of ideas considered by expert committees were related to issues of health and safety.

MMK management attaches great importance to developing systems for innovation and industrial efficiency, attracting the maximum number of company employees to technical creativity. Thanks to efficiency proposals from employees, production effectivity is increased, costs are reduced, as are the consumption of material-and-technical and energy resources, safety measures are improved and ecological issues are addressed. Since the beginning of 2015, a new complex system for introducing efficiency proposals has been developed and implemented at MMK, which gives every employee the opportunity to take part in rationalisation activity.

The company has a flexible system to promote and encourage innovative suggestions. Since 2016, MMK has developed the Evolution mobile app for Android and iOS platforms. This app allows ideas to be submitted for consideration by expert committees not just through a personal computer, but also using a mobile phone.

About MMK

MMK is one of the world's largest steel producers and a leading Russian metals company. The company's operations in Russia include a large steel-producing complex encompassing the entire production chain, from the preparation of iron ore to downstream processing of rolled steel. MMK turns out a broad range of steel products with a predominant share of high-value-added products. In 2016, the company produced 12.5 million tonnes of crude steel and 11.6 million tonnes of commercial steel products. MMK Group had sales in 2016 of USD 5,630 million and EBITDA of USD 1,956 million.

Media contacts:

Dmitry Bulin

tel.: +7 (499) 238-26-13

E-mail: bulin.dn@mmk.ru

Dmitry Kuchumov

tel.: +7 (499) 238-26-13

E-mail: kuchumov.do@mmk.ru


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