Process-related innovations incorporated in 2023 to save MMK over RUB 1.5 billion

Magnitogorsk Iron and Steel Works (MMK) introduced 429 process-related innovations drawing on advanced scientific, technical, production and economic know-how in 2023 that are expected to save the Company RUB 1.53 billion.

MMK assesses its efforts to study and introduce best practices as part of an annual general review that takes place throughout the year, resulting in awards to the top-performing divisions.

During the review, employees responsible for researching the latest technical information are appointed in every production division. This information could include the experience of colleagues, scientific literature, conference publications and personal observations from visits to other production sites. In 2023, review participants researched 4,411 sources of information and proposed 660 innovations, 429 of which were integrated into the production process.

The top performers included the Logistics Department, which introduced more than 100 innovations with expected savings of RUB 854 million, as well as the team from the blast furnace shop, which implemented seven production-related measures during the year that are expected to result in savings of more than RUB 84 million. The staff members from these and other standout divisions receive bonuses.

In accordance with a directive from Sergey Unru, MMK’s Deputy CEO for Production, a new general review of the introduction of advanced scientific, technical, industrial and economic practices into the production process has been launched for 2024. The Company has compiled and approved a list of 74 priority process-related problems that will be addressed with the participation of MMK employees.