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June 6, 2019

MMK partners with Deloitte to develop new digitalisation strategy

Magnitogorsk Iron and Steel Works (MMK) has partnered with Deloitte CIS to create a digitalisation strategy for the Company. The agreement was signed during the St. Petersburg International Economic Forum.

MMK has decided to update its digital portfolio as part of the Company's overall development strategy up to 2025. To do this, Deloitte CIS will prepare a roadmap for the digitalisation of the Company in the medium term. It will include the most effective projects to help MMK achieve strategic goals faster and significantly improve the Companyís business efficiency.

MMK and Deloitte have a long-standing partnership. Deloitte has repeatedly shown its high level of expertise on a wide range of issues of strategic importance for MMK. "I hope that our cooperation in the field of digital transformation will be just as effective and bring both sides beneficial results," said Andrey Eremin, Director for Economics at MMK.

According to the results of a preliminary study, Deloitte experts noted that there is significant potential for the use of advanced technologies at MMK. This is because the Company has an extensive digital history, as well as a production database which is updated in real time.

"The MMK teamís long-standing commitment to implementing information systems to manage technical and production quality, as well as traceability, have made an excellent foundation for the business," said Alexander Oleynik, Director of Strategy and Operations at Deloitte CIS, "In turn, Deloitte will bring cross-sectoral knowledge and innovation experience to the partnership, which will allow us to fully capitalise on MMK's digital potential and form plans for its further development."

About MMK

MMK is one of the world's largest steel producers and a leading Russian metals company. The company's operations in Russia include a large steel-producing unit encompassing the entire production chain, from the preparation of iron ore to downstream processing of rolled steel. MMK turns out a broad range of steel products with a predominant share of high-value-added products. In 2018, the company produced 12.7 mln tonnes of crude steel and 11.7 mln tonnes of commercial steel products. MMK Group had sales in 2018 of USD 8,214 mln and EBITDA of USD 2,418 mln.

About Deloitte CIS

Deloitte CIS is one of the leading international firms providing audit, consulting, financial advisory, risk management and tax and legal advisory services, using the professional experience of around 3.7 thousand employees in 20 offices across 11 countries in the region. Deloitte CIS currently has offices in Russia, Ukraine, Belarus, Georgia, Azerbaijan, Kazakhstan, Kyrgyzstan, Uzbekistan, Tajikistan, Turkmenistan and Armenia.

Investor contacts:
Andrey Serov
tel.: +7 (3519) 24-52-97

Media contacts:
Dmitry Kuchumov
tel.: +7 (499) 238-26-13
Dmitry Bulin
tel.: +7 (499) 238-26-13




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