MMK offers some socially important buildings for sale

July 23, 2014. The management of Magnitogorsk Iron & Steel Works (MMK) is considering different ways of selling several socially important objects: Metallurgists Health Resort in Yessentuki, Berezki B&B, Assol Health Resort, and Wonder Waterfalls Water Park, the company's Director for Business Development and Efficiency Management Maxim Lapin says.

'MMK actually sees ferrous metallurgy as its core business, this is where we make money, have a reputation, and build up on our competences, this is where we have a name, and this is where we have been, are, and will be. I believe everyone should be doing the thing they are best fit for. It's true that our company is good at managing social and service infrastructure facilities, yet this does not necessarily mean that we should own these facilities. An hour a manager spends on a non-core business is an hour lost for core production. Our task is to concentrate on ferrous metallurgy, which is what we do. This is why, if we can find a clever and professional proprietor with a reputation, we can negotiate on the transfer of assets from MMK to the potential buyer,' Lapin explains.

At the same time, MMK intends to keep running all the CSR programs aimed at improving the health of its employees and co-financing their vacations. This is why the new owner needs to be a professional operator interested in the development and use of a health resort or a B&B. MMK is willing to sign an agreement on purchasing a pool of reservations for its employees with such an operator.

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