- Magnitogorsk Iron and Steel Works
-
OJSC Magnitogorsk Iron and Steel Works
ОАО «Магнитогорский металлургический комбинат»
Type Public (RTS:MAGN
MICEX:MAGN)Industry Steel Headquarters Magnitogorsk, Russia Key people Victor Rashnikov, (Chairman) Products Steel
Steel productsRevenue 
US$ 7.7 Billion (2010)Net income US$ 254.0 Million (2010)Website www.mml.ru Magnitogorsk Iron and Steel Works (MICEX:MAGN / RTS:MAGN), abbreviated as MMK, is the third largest steel company in Russia. It is located in the city of Magnitogorsk, in Chelyabinsk Oblast.
Magnitogorsk Iron and Steel Works is also known for being one of the major sponsors of the new Kontinental Hockey League.
Contents
Revenue
2000
In 2007, MMK revenue were of $8 billion (+28% compared to 2006) with an operating income of $2 billion. [1]
MMK has announced in June 2009 a $110 million deficit for 2009 Q1, with a production of 2.1 million tonnes of crude steel [2].
Joint venture investment in Turkey
The MMK signed on May 23, 2007 a joint venture agreement with the Turkish steel company Atakaş to construct and run a steel plant in Hatay Province of southern Turkey. On March 15, 2008, the plant's foundation was laid in Dörtyol, Hatay. Already with the beginning of 2009, plant's service center consisiting of a hot shear line and a combined cold shear and slitting line went in operation.[3] The plant, which will have a capacity of 2.5 million tons of steel products a year, was officially opened by Turkish Prime Minister Recep Tayyip Erdoğan on March 9, 2011. It is one of the biggest of its art in Turkey.[4] On March 10, 2011, it was reported that the MMK applied to the Turkish competition board to buy its Turkish partner's stake.[5]
References
- ^ OJSC Magnitogorsk, Reuters
- ^ Russian steel maker MMK swings to Q1 net loss, The Guardian, June 11, 2009
- ^ "Üreten Türkiye'nin Yeni Çelik Devi" (in Turkish). MMK-Atakaş. http://mmk-atakas.com/. Retrieved 2011-03-12.
- ^ "İşte Türkiye`nin yeni devi!" (in Turkish). Hürriyet. 2011-03-10. http://piyasanet.hurriyet.com.tr/%5Cc%5Chaber_ic.asp?id=744830. Retrieved 2011-03-13.
- ^ "MMK to buy partner's stake in Turkey unit-source". Reuters. 2011-03-10. http://www.reuters.com/article/2011/03/10/turkey-atakas-idUSLDE7291SC20110310. Retrieved 2011-03-12.
See also
- Time, Forward!, a 1965 Soviet film about one day of construction of Magnitka
External links
- (English) Magnitogorsk Iron and Steel Works
- (Russian) Magnitogorsk Iron and Steel
RTSI companies of RussiaAcron · Aeroflot · AFK Sistema · Bank Saint-Petersburg · Bashneft · DIXI · FGC UES · Gazprom · Gazprom Neft · Holding IDGC · Inter RAO UES · LSR Group · Lukoil · Magnit · Mechel · MMC Norilsk Nickel · MMK · MOESK · Mosenergo · Mostotrest · MTS · M.video · NCSP · NLMK · Novatek · OGK-1 · OGK-2 · OGK-4 · Pharmstandard · PIK Group · Polymetal · Polyus Gold · Raspadskaya · Rosneft · RusHydro · Sberbank · Severstal · Sollers · Surgutneftegas · Tatneft · TNK-BP · Transneft · Uralkali · VSMPO-AVISMA · VTB Bank · V.Bank · WGC-3
MICEX Index companies of Russia (25 April 2011—22 July 2011)
Aeroflot · FGC UES · Gazprom · Gazprom Neft · Inter RAO UES · Lukoil · Magnit · MMC Norilsk Nickel · MMK · Mosenergo · MTS · NLMK · Novatek · Polymetal · Polyus Gold · Raspadskaya · Rosneft · Rostelecom · RusHydro · Sberbank · Sberbank(pref) · Severstal · Surgutneftegas · Surgutneftegas(pref) · Tatneft · Transneft · Uralkali · VolgaTelecom · VTB Bank · WGC-3
Categories:- Companies listed on the Russian Trading System
- Companies listed on the Moscow Interbank Currency Exchange
- Steel companies of Russia
- Steel companies of the Soviet Union
- Chelyabinsk Oblast
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