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Magnitogorsk Iron and Steel Works ("MMK" or “the Company”) announces that in line with the resolution passed by the Annual General Meeting of Shareholders (AGM) of OJSC MMK, an entry in Unified State Register of Legal Entities was made regarding Open Joint Stock Company Magnitogorsk Iron and Steel Works on state registration of changes in the articles of association of a legal entity (new version of the Charter), which now include its new business name. The change of the business name...

... Attraction project, initiated by MMK's Chairman of the Board of Directors Victor Rashnikov, aims to create and develop an urban environment of a completely new quality which has no analogues in the Chelyabinsk region. 25 international consortia (about 100 companies) took part in the competition for the design project and nine world leading companies were progressed to the commercial stage. Before starting the project work, Stephan Jentsch, the Director of the OBERMEYER office in Munich and Dmitry Sigida,...

... the highest level recorded among Russian steelmakers and was achieved thanks to MMK’s automated production scheduling system. In 2022, MMK completed a large-scale project to replicate a unified corporate information system (CIS) across 15 MMK Group companies. The system covers production, sales, projects, personnel and maintenance management, as well as optimisation planning, accounting, finance and budgeting, electronic document management, procurement and purchasing. The unified CIS has become ...

A new version of MMK Group's environmental policy was approved and put into effect by the order of MMK CEO Pavel Shilyaev. This is the fifth edition of the fundamental environmental policy that defines the main principles and goals of the Company's activities in the field of environmental protection. The new version of the environmental policy was adopted in order to improve the Company’s environmental management system and integrate environmental management processes at MMK Group in accordance...

... way of simulating the plant's production facility was determined, and key organizational aspects of the simulation were also discussed. In doing so, the combined team comprising experts from MMK and GMCS considered both the experience of Russian steel companies as well as international best practices in terms of the application of Supply Chain Planner. While the project was being designed, a model of the plant's production cycle was implemented in the system, from sintering and blast-furnace processes ...

... line with the Company’s priorities. MMK hosted a seminar in Magnitogorsk for software and hardware developers to discuss potential joint projects in import substitution in line with the Company’s priorities. Leading national software development companies presented their solutions and IT products across various business areas, against the backdrop of growing demand for domestic providers. MMK and company representatives also discussed the compatibility of domestic solutions with one another and ...

... dynamics in terms of the dividend payments and stock quotes over the past five years, entered the top 10. Weighted average return on MMK shares amounted to 9.96, and the dividend growth rate was 1.43. This is one of the best indicators among Russian companies. Payment of high dividends to company’s shareholders is one of MMK's financial policy priorities. Maria Nikulina, Head of MMK's Financial Resources Department, commented on MMK's inclusion in the rating, “Our strategic initiatives are aimed ...

... turbulence due to the company's low cost of operations, focus on high-value added (HVA) products, leading positions on the Russian steel market and high profit margins through the cycle. Fitch also admits that MMK has one of the lowest leverages among steel companies globally. After MMK repaid most of its debt in 2015-2016, the company has had almost zero net debt and is committed to keeping low debt levels. MMK is rated above the 'BBB-' Country Ceiling for Russia (BBB-/Positive). This is in line with Fitch’s ...

... the celebrations of the Day of the Metallurgist. The letter from the Russian President reads: ‘I thank you for the active part you have played in the preparation of events held throughout the Year of Ecology in Russia’. MMK is one of only five companies in Russia which have been awarded such a high accolade. In total, last year MMK implemented several dozen projects for the reduction and prevention of its industrial impact on the environment with a record-high investment of more than RUB 4 ...

... large-scale project to identify processes suitable for robotisation. The robotisation drive engaged nearly all of the Company’s functional and structural units, and in 2019 MMK received an award for the largest RPA project among Russian manufacturing companies. In 2022, following the exit of foreign RPA platform manufacturers from the Russian market, MMK faced the complicated task of transferring all its robotic business processes and infrastructure to domestic software without interrupting its ongoing ...