Site search, page 50

... MMK–KAMAZ Coordinating Council, where representatives of MMK and one of the leading national car manufacturers highlighted the results of their cooperation in 2022 and outlined their future plans. The event brought together representatives of the two companies’ technical and commercial departments, including both managers and specialists, to discuss ongoing joint projects and progress towards key strategic goals, as well as identify promising new areas of activity. A delegation of more than 30 people ...

To improve corporate governance at the MMK company Ruslan Pakhomov has been appointed Strategic Development Advisor Mr. Ruslan Pakhomov, born 1970, holds an engineer’s degree from the Bauman Technical University (Moscow, Russia). He had spent most of his career at GE in Russia working at the company’s different divisions including GE Corporate, GE Oil & Gas and GE Energy. For almost a decade he oversaw strategic development of GE Energy business growing it from a Russia-based sales outpost...

PJSC Magnitogorsk Iron and Steel Works’ (MMK) hot-rolled products Mill 2000 achieved its maximum annual production rate in 2018, for the second time since its launch, breaking the 6 million tonne mark for production of hot-rolled products. The previous record was set at the end of 2016, when the annual output of the mill reached 5.948 million tonnes of hot-rolled steel. In 2018, the figure was 6.002 million tonnes. MMK's most productive rolling mill is located in sheet-rolling shop No. 10. This...

Magnitogorsk Iron and Steel Works (MMK) Group has developed its first programme-controlled robot capable of executing the functions of an employee working on a computer. The robot was created by MMK Infoservice’s (part of MMK Group) Centre for RPA and Innovation based on innovative RPA (Robotic Process Automation) technology. The robot, which has already been commissioned, was developed to promote efficient cooperation between MMK’s commercial department and suppliers of metal scrap. It processes...

On July 14, 2011 MMK placed its RUR 5 bln bonds (series БО-06) with the maturity period of 1092 days (3 years). The offer for the issue is not provided. The issue is included in the list “Б” at MICEX. The total value of demand from investors equaled to RUR 14.4 bln which translates into more than 2.9x oversubscription. The first coupon rate was set based on the results of a coupon rate tender held at MICEX. 115 bids were sent for the tender with coupon rate varying from 6.80 to 7.65%...

MMK centralised factoring operations by connecting financial agents to the unified online platform Kontur.Factoring and implementing the "one window" principle. MMK chose the Kontur.Factoring electronic platform for digital operations. Magnitogorsk Iron and Steel Works (MMK) has been operating in the factoring services market since 2011. The number of factors and counterparties increases every year. At the same time, document turnover is also growing, which entails increased time spent...

The President of the Union of Industrialists and Entrepreneurs (UIE) of the Chelyabinsk Region and Chairman of the Board of Directors of Magnitogorsk Iron and Steel Works (MMK), Victor Rashnikov, will hold a meeting of the Board of UIE on Friday. The discussion will focus on the national project Ecology and the diversification of production of military-industrial complex. The meeting of the Board of the Regional Public Organisation and Employer's Association will be held at the ski resort Abzakovo...

24 July marked ten years since the launch of the unique Magnitogorsk Iron and Steel Works (MMK) plate Mill 5000. Over its 10-year history, the unit has produced more than 10 million tonnes of hot rolled steel. Russian President Vladimir Putin attended the ceremony celebrating the unit being commissioned. He praised the work of the mill, which has become one of MMK's largest investment projects in recent decades and is focused primarily on the needs of Russia's oil and gas industry. "I would...

From 4th to 11th January, nearly RUB 65 million of MMK funds were transferred to the personal bank accounts of victims and relatives of those victims affected by the residential building collapse in Magnitogorsk. The charity fund Metallurg, which distributes MMK's targeted assistance funds, reported that as of Friday, 11 January 2019, 162 people who have been affected in various degrees of severity by the accident had applied for financial assistance from the Fund. 126 people applied for financial...

Magnitogorsk Iron and Steel Works (MMK) almost doubled its shipments to domestic car making sector in 2010 compared to 2009 In 2010, MMK delivered 406,000 mt of steel products to Russian car makers - almost twice as much compared to 209,000 mt in 2009. Local automotive sector accounted for 5.8% of MMK’s total domestic sales in 2010. The steelmaker’s major customers within domestic auto segment are AvtoVAZ, KamAZ and GAZ automobile plants. One of the MMK’s strategic goals is making the company...