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SOURCE Magnitogorsk Iron and Steel Works (MMK)
BRUSSELS, September 17, 2013 /PRNewswire/ --
A photo exhibition dedicated to Magnitogorsk Iron & Steel Works (MMK) opened on 17 September at the Russian Centre of Science and Culture in Brussels.
The exhibition captures everyday life at the Magnitogorsk works. Today the plant is a modern, high-tech metallurgical complex focused on meeting demand for ferrous metals for export and the domestic market. MMK's extensive investment programme over the past decade has led to the rebirth of this metallurgical giant.
"The Magnitogorsk plant's history, stretching back more than 80 years, reflects the history of the whole of Russia through the last century, rich in famous names and great events. Today the plant is one of the most up-to-date metallurgical production facilities anywhere in the world, and uses the latest cutting-edge technologies," notes MMK Vice-President Vladimir Ruga in his opening remarks. "MMK is implementing a long-term investment programme to meet consumer demand and increase output volumes of high-value-added (HVA) products. Between 1997 and 2012 output of crude steel and finished products at MMK grew by more than 1.6 times, and the group's total investment in technical upgrades over the past 12 years totals USD 8.8 billion."
MMK (Fitch: BB+, Moody's: Ba3) is one of the world's largest steel producers, and Russia's leading ferrous metals enterprise. The company's assets in Russia are a large, fully integrated steel production complex that encompasses the entire production chain, from processing of iron ore to downstream production of rolled steel. MMK's broad product assortment is dominated by HVA products. The group is one of the World Steel Association's top 40 companies. In 2012 MMK Group produced 13 million tons of crude steel and 11.9 million tons of finished products. MMK Group had USD 9.328 billion of revenue in 2012, with EBITDA of USD 1.356 billion.
The photo exhibition runs from 17-29 September. It is supported by the Embassy and Trade Mission of the Russian Federation to the Kingdom of Belgium and the Belgian-Luxembourg Chamber of Commerce for Russia and Belarus.
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