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Press Release

MMK and ChTPZ signed an agreement till 2015

July 26, 2010 - MMK and ChTPZ signed an agreement on cooperation - «Plate Mill 5000 - Height 239» till 2015 in order to provide Russian oil and gas companies with high quality pipes for construction of new major pipelines and reconstruction of existing pipelines.

The parties will cooperate in terms of supplies of steel from MMK Plate Mill 5000 to the large-diameter pipes making shop Height 239 of ChTPZ. Plate Mill 5000 is a state-of-the-art rolling mill with annual capacity of 1.5 mln tons. It was put on stream in July, 2009. The mill is set to produce plates with up to X120 strength characteristics for oil and gas industries, shipbuilding, machinery building and construction of bridges.

A team of experts from both parties will be built in order to coordinate cooperation and increase efficiency of operations. Besides, the parties will work out cooperation programmes in scientific-technical, commercial and other spheres of partnership.

About OJSC MMK

OJSC MMK is among the world's largest steel producers and is one of the leaders of Russia's steel industry. The company's operations in Russia include a large steel producing complex encompassing the entire production chain, from preparation of iron ore to downstream processing of rolled steel. MMK turns out a broad range of steel products with a predominant share of higher value added goods. In 2009 the company produced 9.6 mln tonnes of crude steel and 8.8 mln tonnes of commercial steel products. MMK Group revenue in 2009 stood at USD 5.081 bn, EBITDA at USD 1.285 bn, profit for the period - USD 219 mln.


2010-07-27

Please see Magnitogorsk Iron & Steel Works (MMK) company electronic office

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MMK
 
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E-mail: press@mmk.ru

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