Magnitogorsk Iron and Steel Works Open Joint Stock Company (MMK)

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The Magnitogorsk Iron and Steel Works Open Joint Stock Company (MMK) is the largest enterprise of the Russian steel industry, accounting for about 20% of all steel products sold on the domestic market. MMK is a major fully integrated steel making complex encompassing all the required processes, from preparation of iron ore materials to high added value processing of steel. It produces the widest range of steel products among steel producers in Russia and the CIS. About half of the Company's output is exported worldwide The Chairman of the Board of Directors of the company is Victor F. Rashnikov.

MMK is the leader of the modernization effort in the Russian steel industry. It is carrying on an extensive revamping program drastically renovating all of its production divisions in just one decade. The recent additions to MMK's production assets include such large-scale facilities as the 1,700 mm two-stand reversing cold rolling mill, the continuous hot dip galvanizing line, the colour coating line, three bar and section mills, and two super-powerful electric steel smelting furnaces. In recent years the Company has been investing about half a billion dollars annually in its own capital construction and modernization.

MMK has developed a dedicated strategy and acts in the following directions:

Continuous and comprehensive development of the company that provides for replacement of obsolete technologies and equipment, operation of the existing and new up-to-date hi-tech environmentally friendly facilities at their full capacity;
More efficient production of iron, steel, rolled products and downstream products;
Strengthening of presence in the market thanks to improvement of product quality, active marketing research and development of the marketing strategy;
Maintaining of the wide product range (flat and long products) in long term prospective concentrating on high value added flat products;
Creation of comprehensive guarantees for stability of MMK’s business;
Increase in production of high quality cold rolled flat products, coated steel, downstream products;
Introduction of power saving technologies and expansion of the company’s in-house power facilities;
Implementation of the environmental management system in conformity with the international standard ISO 14001-96;
Improvement of the social situation thanks to growth of salaries and efficient social programs and benefits;
Establishment of an integrated financial and industrial structure with participation of MMK;
Acquisition of downstream companies and suppliers of raw materials;
Improvement of the company’s control and informational transparency for investors and shareholders.

Address: 92 Kirov street, Magnitogorsk, Chelyabinsk region, Russia.

Corporate Secretary

Valentina Khavaceva

Tel.: +7 (3519) 24-72-29

E-mail: khavaceva@mmk.ru

Press Secretary

Elena Azovtseva

Tel.: +7 (3519) 24-90-82

E-mail: azovtseva@mmk.ru

Head of IR Department

Evgeny Kovtunov

Tel.: +7 (3519) 24-93-55

E-mail: kovtunov@mmk.ru