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MMK announces a change in its shareholder structure of it's stock
Thu, 04 Aug 2022 00:00:00 GMT
Magnitogorsk Iron & Steel Works (MMK, or the Group) (MOEX: MAGN; LSE: MMK) announces that on 3 March 2022 MMK received a notice of a change in its shareholder structure. The corresponding transaction was completed on 28 February 2022, about which the participants in the transaction and the Group provided all necessary notifications to the regulatory authorities. As a result of the transaction, 79.76% of the shares of PJSC MMK owned by Mintha Holding Limited (hereinafter referred to

Russia: metal companies output collapsing
Mon, 30 May 2022 09:53:21 GMT
Russian metal companies are considerably decreasing output. Thus, compared with January-February, MMK has decreased steel production by 40%, while Severstal is reporting a 20-40% drop in June. MMK might produce 550 thousand tons of steel in June. With full loading of capacities the company produces around 1 million tons per month. A part of

MMK and Siemens develop integration platform and create competence ...
Mon, 31 Jan 2022 00:00:00 GMT
Magnitogorsk Iron & Steel Works (MMK) and Siemens LLC (a subsidiary of Siemens AG in Russia) entered into an agreement to develop an integration platform and create a competence centre based on MMK. The document was signed by Director General of MMK Pavel Shilyaev and President of Siemens in Russia Alexander Liberov. MMK chose WinCC Open Architecture integration platform from Siemens as the principal product for the real-time database of the MMK Group's digital platform. The WinCC Open

MegaFon's private LTE network is coming to MMK
Fri, 24 Dec 2021 00:00:00 GMT
Magnitogorsk Iron and Steel Works and MegaFon signed a five-year agreement on cooperation in the development of advanced technologies. In particular, the agreement will cover the development of the Internet of Things, digitalisation of the enterprise and improvement of telecom infrastructure in Magnitogorsk. MegaFon will build a private LTE network at MMKs production sites. The private LTE network will create a secure and stable data transmission environment for the plant's digitalisation

AK&M raised the ESG reporting rating of MMK
Fri, 29 Oct 2021 00:00:00 GMT
Federal rating agency AK&M raised the ESG reporting rating of Magnitogorsk Iron & Steel Works to RESG 1 - the highest level of sustainability disclosure. MMK was assigned the highest rating level following the publication of the Integrated Annual Report for 2020, which contains detailed information on the Company's environmental, social and corporate governance (ESG) performance. Last year, AK&M assigned MMK a reporting rating of RESG 2, upgrading it after more in-depth

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