13 March ‘23

MMK Staff Presenting More Innovative Ideas Than Ever

In 2022, the employees of Magnitogorsk Iron and Steel Works (MMK) submitted 6,927 ideas to improve efficiency at the plant for review by expert commissions, an increase of 22.5% from the previous year.

Three quarters of the ideas – 5,204, up from 4,332 in 2021 – were approved and accepted for implementation. The proposals already accepted have resulted in RUB 276 million in savings, and the Company has distributed more than RUB 23.19 million in financial rewards to the proposals’ initiators.

The inventions and innovative ideas put forward by MMK personnel have made existing technologies more efficient for use in today’s industrial environment. This is precisely why MMK’s management considers innovation to be one of the Company’s strategic priorities. The Company places a strong focus on developing creativity and encourages employees to take initiative to improve the workplace through professional competitions, seminars, exhibitions and other events.

MMK’s business divisions hold a competition for the best solutions to problematic issues, with the winners and runners-up receiving financial rewards. In addition, the Company holds an annual competition for its best young innovators and inventors, with prizes awarded to the top 16 participants aged 35 years or younger. Another competition is aimed at identifying MMK’s best efficiency proposal, with prizes for the top three ideas in each of nine categories and one overall winner for best proposal among all categories.

“We are interested in fully realising the creative potential of our staff and engaging them in the life and work of the Company as much as possible. Improving our corporate culture and creating an enriching environment filled with possibilities are key to our future success. That’s why it is of utmost importance that we encourage staff to find ways to improve efficiency and come up with new inventions; this is the most important component of our innovation potential,” said Pavel Shilyaev, CEO of MMK.

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