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Magnitogorsk Iron & Steel Works becomes Russian markets capitalization leader


22.10.2007. : public
Magnitogorsk Iron & Steel Works (MMK) was rated 16th among Russias top 200 largest companies featured in Capitalization-200 ranking published by the Expert magazine, MMKs press officer reports.

The companys capitalization reached 329.1 billion RUR ($12.831bn) on August 31, 2007. This is sixteenth best result; last year, the company was rated seventeenth. As regards the Expert-400 rating that comprises Russias largest companies with the best sales figures, MMK was given the 19th position in 2006. This is one point up from the previous years results as well. Then, the companys revenues reached 174.668 billion RUR ($46.424bn) in 2006. Magnitogorsk Iron & Steel Works was also given the 14th position on Russias Top 20 Most Profitable Companies list against the previous years 11th position.

Expert 400 annual rating covers enterprises that operate in all fields of economy and rates the companies according to the volume of sales of products and services in 2006. The method used for compiling the rating was approved of by PriceWaterhouseCoopers. MMK is always present in the rating and is always among the countrys top twenty enterprises.