26 December 200709:23

Magnitogorsk Iron & Steel Works looks at its success in 2007

The year’s last Economic Board’s meeting, chaired by the company’s Vice President Vladimir Shmakov, was held at Magnitogorsk Iron & Steel Works. The main points on the meeting’s agenda had to do with evaluating the enterprise’s activity in 2007, the development of the corporate information system, and elaborating the business’s general economic action plan. MMK was reported to produce more than 1 million tons of goods a month throughout 2007, thus exceeding the production output by almost 9% compared to 2006. The enterprise was expected to come up with 12.2 million tons of metal goods by
26 December 200709:21

UC RUSAL launches 5S at Severouralsk bauxite mine

The Japanese lean production system known as 5S is currently being launched at UC RUSAL’s bauxite mine in Severouralsk, the company’s local press officer Roman Lukichev says. All the mines and production shops have been provided with step-by-step plans of introducing the lean production principles; they’ve also got workplace clean-up schedules and zoning schemes now. Prior to launching the new system, the shop premises were refurbished, and all the tools have been re-examined and sorted out. Finally, the areas of the shop that are safe to be in are now marked with yellow lines. 'We
26 December 200709:19

SKB-Bank is one of Russia’s most profitable banks

According to RBC.Rating, most of the banks on Russia’s Top 100 Most Profitable Banks list are provincial ones, with SKB-Bank rated 83d largest bank in terms of profit in January-September 2007. SKB-Bank’s balance sheet profit reached 394.4 million RUR on October 1, 2007, which is 48% better than a year earlier. The impressive dynamics resulted in SKB-Bank’s promotion by five positions in this year’s rating. The bank’s profit is expected to exceed 600 million RUR in 2007, which is a lot better than a year before.
26 December 200709:15

VSMPO-AVISMA’s management fail to ensure workers’ safety

The public prosecution authorities of Verkhnyaya Salda and the regional division of Rostechnadzor (the state environmental, technological, and nuclear safety watchdog) inspected VSMPO-AVISMA for compliance with the labor protection standards. It was felt the inspection was needed after a high-pressure container exploded in one of the gas furnaces at 11 PM on December 2, 2007. Six people were injured, with one of them dying immediately and another one passing away in hospital. It was detected in the course of the investigation that the company’s management was not trying hard enough to ensure
26 December 200709:11

Ural Airlines’ ground crew and management to operate in stand-by mode at New Year

Ural Airlines’ scheduling experts have already planned the medium-term timetable in a way that gives all the pilots a chance to celebrate New Year on land and at home. The carrier’s press officer says the number of flights scheduled for December 31, 2007 has been reduced by 40% (two flights bound for Moscow, a flight bound for Samara, a flight bound for Novosibirsk, and a flight bound for Surgut were cancelled). This year’s last flights are expected to arrive in their destination points no later than 10 PM (local time). For instance, a plane from Tashkent will land in Yekaterinburg at 4.45
25 December 200709:21

Magnitogorsk Iron & Steel Works pilots heavy-duty rolled metal products

A few pieces of heavy-duty rolled metal produce were piloted in Magnitogorsk Iron & Steel Works/MMK’s sheet-rolling shop in December 2007. All these goods belong to the X80 durability category. According to MMK’s press officer, these experimental products were made for Volzhskiy Pipe Plant. Their manufacturing was made possible after restoration of cold-rolling mill 2000 that has already been used for making coil stock. The testing of the products confirmed their durability at X70 or even X80, so the goods have already been shipped to Volzhskiy Pipe Plant that will be using them for
25 December 200709:15

URSA Bank celebrates its first anniversary

The brand known as URSA Bank entered the Russian banking market a year ago. Today, URSA Bank is Russia’s 16th largest bank in terms of assets: these, according to Interfax-CEA, increased by more than 65% compared to the beginning of 2007. In addition, the bank is now Russia’s second largest bank in terms of asset growth dynamics, 17th largest in terms of capital volume, 13th largest in terms of natural persons’ deposit volume, and 5th largest in terms of consumer loan volume, the bank’s press officer reports. According to The Finance magazine’s rating published in October 2007, URSA Bank was
25 December 200709:13

Ural Airlines to operate chartered flight to Vietnam on December 29, 2007

Ural Airlines is going to operate a chartered flight to Vietnam, with the plane taking off in Yekaterinburg on December 29, 2007. The flight was ordered by More Travel. Russian citizens will be able to enjoy a nice break in Vietnam from December 28, 2007 to January 11, 2008. The spokesperson for the company reports the flight will be operated using an IL 86 (business class provided). There will be one refueling stop in Lahore on Yekaterinburg-Ho Chi Minh flight and a stop in Delhi on Ho Chi Minh-Yekaterinburg flight. According to More Travel’s GD Dmitriy Kushev, tours to Vietnam are 40%