MMK is one of CIS leaders in terms of labor productivity

October 21, 2013. The Expert Magazine carried its annual rating of 400 largest companies in 2012. Magnitogorsk Iron & Steel Works (MMK) was 41st among the top 50 large businesses of the CIS in terms of labor productivity. This is the best result among all the Russian metallurgical enterprises, the company reports.

In terms of sales, MMK, with its 289.9bn RUR worth of revenues (these are the consolidated data calculated in accordance with the IAS) was 27th on the list, which is one position up from last year. There are 200 major Russian companies on the list, and MMK is 34th in terms of market capitalization as of September 2, 2013.

‘The increase in labor productivity means we have been able to keep the metallurgical workers’ wages ahead of inflation for many years now. Among the main factors that contribute to the labor productivity are improvements in the production processes organization and our investment programs,’ says MMK BOD Chairman Viktor Rashnikov.


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