MMK Chairman relies on home demand

18 February 2010 (11:52)

Chairman of Magnitogorsk Iron & Steel Works (MMK) Board of Directors Viktor Rashnikov took part in the governmental committee’s meeting devoted to the Russian metallurgical industry’s development. The meeting was chaired by Deputy Prime Minister Igor Sechin.

The agenda of the meeting covered issues related to the metallurgical sector’s post-recession development, the current investment programs, and the ways to increase demand for metal products on the construction and machine-building markets.

Viktor Rashnikov observed that stimulating demand within the metal goods-consuming industries would be the most efficient way to support the Russian metallurgical branch.

‘Most of our enterprises are quite functional at the moment, but in order to move further, we need to increase the home demand. MMK has always been primarily focused on the domestic metal goods market, and our largest investment projects like Mill 5000 and Mill 2000 (meant for manufacturing automobile body sheets) are targeted at the Russian customers. This is why we are interested in the development of new car-manufacturing businesses. Also, the foreign companies need to be encouraged to use Russian components, including automobile body sheets. This will boost the metallurgical industry and motivate the enterprises to introduce innovational technologies,’ MMK BOD Chairman said.

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