Magnitogorsk Iron and Steel Works has won the competition “Priority 2017”, a national prize in the field of import substitution. The company won its award in the Metallurgy nomination, for developing facilities to produce high-quality galvanised steel.

Representatives of the Russian government, State Duma, Chamber of Commerce and Industry, as well as other organisations and departments were present at the awards ceremony, which took place in Moscow on the 17th November.

In the past summer, MMK commissioned its continuous hot dip galvanising unit No 3, thanks to which the company’s production capacity for galvanised steel has increased by nearly 20% - up to 2 million tonnes a year. The main consumers of these products are the construction industry and producers of containers and packaging. The production capacity of the new unit is 360,000 tonnes a year; it uses cold rolled strip without covering, which is produced in the sheet rolling plant No 11. The total construction costs amounted to RUB 6 billion.

This is not the first time that Magnitogorsk Iron and Steel Works has won the prize. In 2016, the company won the award for developing and implementing the industrial production of the high-tensile and wear-resistant MAGSTRONG steels. The annual “Priority” competition in the field of import substitution was established with the goal of identifying and encouraging the best Russian technologies, solutions, goods and services. To date, the “Priority” award is Russia’s first and only authoritative award for the best enterprises in the country, which have achieved the most significant successes in the area of import substitution.

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 complex 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 2016, the company produced 12.5 million tonnes of crude steel and 11.6 million tonnes of commercial steel products. MMK Group had sales in 2016 of USD 5,630 million and EBITDA of USD 1,956 million.

Investor Relations Department:

Andrey Serov, Head of IR

tel.: +7 (3519) 24-52-97

E-mail: serov.ae@mmk.ru

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