print version 

Find company
Home About the ProjectContact usFor the Clients
Enter code or ISIN
 
alpha / industry search

Issuers' Corner
Press Releases
Annual Reports Library

Financial Statements
SEC & FFMS Filings
Corporate Presentations
GM Materials
Issues Documents
Corporate Governance Materials
Russian Company Guide
Company Profiles
Corporate Calendar
Markets Corner
Consensus Estimates
Media Corner
News Line


Get updates



Home  Issuers' Corner  Press Releases REGISTER LOG IN

Press Releases

company search
all press releases
all MMK press releases

MMK

November 25, 2020

MMK wins national award "Priority 2.0"

MagnitogorskIron and Steel Works (MMK) received an award in the category "Priority - Metallurgy" for the development and implementation of the strategic initiative Industry 4.0. Vladimir Ruga, Deputy General Director for External Communications, also received an award in the special category "Priority Personality" for effective promotion of the Company's advanced technologies in the media.

The Industry 4.0 strategic initiative is one of MMK's most important and large-scale projects, which involves the introduction of advanced technological solutions and digitalisation of production and business processes in all MMK Group subsidiaries. The Industry 4.0 portfolio of projects, developed at the end of 2019 in cooperation with the consulting company Deloitte CIS, is designed for the period up to the end of 2024, it includes 98 advanced initiatives grouped into four key technology streams: analytics, robotics and services, asset management and modelling.
It is expected that the implementation of all digitalisation initiatives should bring MMK Group an additional +4.5% to EBITDA in five years, which by the end of 2024 would amount to $140-160 million, with capital investments of about RUB 5 billion. By fall 2020, the Industry 4.0 projects allowed MMK to save more than $25 million.
This year, in addition to the general award for the Company, Vladimir Ruga, Deputy General Director for External Communications at MMK, received the "Priority - Personality" award for his successful work in promoting the Company's advanced technologies in the media.
In 2020, MMK won the Priority award for the fifth time in a row. Earlier, the Company was awarded the prize for the commissioning of its new sinter plant No. 5, equipped with the latest environmental technologies (2019), the development of polymer rolled steel SteelArt produced at Lysva Metallurgical Plant (2018), its capacity development for the production of high-quality galvanized steel (2017), and the development and introduction into industrial production of high-strength and wear-resistant MAGSTRONG steels (2016).
The national Priority award was founded in 2015, at the same time as the Russian Government approved its import substitution programme for 2015-2020, with the aim of rewarding the most successful domestic companies that create products and technologies that promote import substitution and are internationally competitive. In 2020, the award changed its format now it is called "Priority 2.0: the national award for the effective use of advanced technologies", and its awards are given out for achievements in the development, implementation and promotion of advanced domestic technologies in all areas of industry.

Search by industry

Agriculture, Foresty and Fishing | Chemicals | Engineering | Ferrous Metals | Financial, Insurance & Real Estate | Food & Kindred Products | General Construction | Information Technology | Media & Publishing | Non-Ferrous Metals | Oil & Gas | Pharmaceuticals | Power Industry | Precious Metals and Diamonds | Telecommunications | Transportation | Wholesale & Retail Trade

Search by alpha index

A B C D F G I K L M N O P R S T U V W X Z


Site Map
© RUSTOCKS.com
Privacy Statement | Disclaimer