MMK increased steel production by 18%

In 2010, the Magnitogorsk Metallurgical Combine has increased steel production by 18%. This was stated by Chairman of the Board of Directors of MMK, Viktor Rashnikov at a meeting with heads of production units and the enterprise trade union activists. Increased production was made possible by not only restores the demand for the metal, but also the development of new products. Nevertheless, to fully overcome the effects of the global financial crisis, metallurgists could not - production capacity of the CMI is not completely downloaded, he said. V. Rashnikov said that CMI is the largest producer of rolled metal in Russia - in 2010, the company's share in the production of rolled metal in Russia amounted to 17,3%. According to preliminary data, capital investment companies in 2010 will amount to 1.2 billion dollars, and all the group companies CMI investment reached 2.1 billion dollars, "If we talk about the prospects for 2011, we see continued growth in demand for products from CMI by all the leading sectors of Russian economy - said V. Rashnikov. - Increased consumption of steel products, according to our estimates, will be at least 10% by 2010. Accordingly, we develop our production program. In 2011 we expect to increase steel production by 14% , commercial products - by 17%. Timely and targeted investments strengthen our competitiveness and create the basis for improved operational and financial performance in the future. " OAO Magnitogorsk Iron and Steel Works is the largest Russia's steel industry. The company is a large steel complex with a full production cycle, from preparation of iron ore to downstream processing of ferrous metals. Ministry of Industry