May 7, 2014. Magnitogorsk Iron & Steel Works (MMK) looked into the results of its innovative activity in 2013; the launch of innovations resulted in a total 2.5bn RUR worth of savings last year, MMK says.

All in all, MMK experts conducted 54 R&D projects last year. 5 innovative projects were completed, 11 new product makes were introduced, and some 4,900,000 kg of new kinds of metal goods were produced and shipped to customers within the framework of the company's innovative products program. The company spent around 96m RUR on making innovative goods in 2013 altogether.

MMK cooperated with the country's leading scientific research institutes along 78 different projects, 44 of which were completed last year. The R&D projects completed in 2013 alone are expected t to result in 543m RUR worth of savings.

In 2013, the company also implemented the second stage of a state contract on mastering the technology of making flat stock from heavy-duty steel (the Scope Project). The main goal here is to master the production of promising kinds of products, to build up the company's share of the market of heavy-duty steels for marine facilities, and to raise the economic efficiency of making flat stock from heavy-duty steels. The project is expected to be in progress for three years.