Annual Report 2010 - Magnitogorsk Iron & Steel Works

Highlights of 2010 and 20112010JanuaryA 200,000 tpy colour coatingline was put into operation inIskenderun (MMK's steel-makingplant in Turkey).MMK held a meeting of thecoordination council with OJSCTMK, the largest Russian pipeproducer ranking #3 in the world.FebruaryMMK's BOF Division started up anew secondary steel treatment unitwhich allows to produce pipemakinghigh strength steel gradesto international standards for the5,000 mm Plate Mill.ProjectFinance, part of theEuromoney media Group,recognized the financingtransaction for MMK's Turkish steelmaking plant as "the Deal of theYear".MarchMMK was visited by Ralph Lysyshyn,the ambassador of Canada.MMK was certified for compliancewith STO Gazprom 9001:2006quality management systemstandards.Trade Finance Magazine, aspecialized publication of theEuromoney Institutional InvestorGroup, recognized the financingtransaction for MMK's Turkish steelmaking plant as "the Deal of theYear"A coordination council of MMKand the ChTPZ (ChelyabinskPipe-Making Plant) Groupreviewed the results of 2009 andconsidered the prospects for along-term cooperation between thecompanies.APRILMMK joined the ranks of ForbesGlobal 2,000.MMK announced the IFRS financialresults for 2009:• MMK's 2009 revenuetotaled USD 5.081 bn.• EBITDA margin was 25%.A new product - rolled strip coatedwith protective and decorativefilm - was introduced at MMK's newcolour coating line.MMK joined the Forbes Global2,000, the list of the world's leadingcompanies.MMK won the prize for the BestInnovative Project as part ofthe Russian Industrialists andEntrepreneurs Union's Competition"Best Russian Companies. Growth,Performance, Reliability 2009".MMK's steel making plant in Turkeycommissioned a 450,000 tpy hot dipgalvanizing line.MMK placed a 3-year, RUB 8 bnissue of exchange-traded bondsincluded in the MICEX quotationlist, with a coupon rate of 7.65%.MMK's registrar, ZAO Status,changed its address toUl.Novorogozhskaya 32, Bldg 1,Moscow, 109544.10