MMK aims to develop metal processing technologies

26 October 2007 (09:57)

Magnitogorsk Iron & Steel Works (MMK) aims to raise its metal goods output up to 15 million tons a year by 2013, Chairman Viktor Rashnikov reports. The enterprise has already managed to increase its steel output by 1.86 times (from 6.7 million tons to 12.45 million tons) and to nearly double its metal goods production (from 5.8 million tons to 11.3 million tons) in 1996-2006. Last year, MMK’s steel output rose by 1 million tons and its rolled metal output grew by 1.15 million tons. Mr. Rashnikov says the company now aims to develop its further metal processing technologies and concentrate on the high-value-added production.

Magnitogorsk Iron & Steel Works is Russia‘s leading high-value-added metal goods producer at the moment. The enterprise is interested in more than a simple increase in sales figures, this is why it is investing in further metal processing technologies. For example, a continuous galvanizing unit with estimated capacity of 450,000 tons of goods a year is being put up at the moment; then, a polymeric coating facility will soon be constructed as well. As for its export markets, MMK intends to set up some joint ventures that would deal in further metal processing.

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