Annual Report 2010 - Magnitogorsk Iron & Steel Works

News"Good luckand bon voyage!"It was no accident that Magnitogorskbecame the venue of a session of thePresidential Commission for Modernizationand Technological Development whichtook place on 30 March 2011, underthe chairmanship of President DmitryMedvedev.The Magnitogorsk Iron and Steel Works is a vividexample of how Russia is implementing the strategyof modernization. The country's largest single-sitesteel making enterprise located on the geographicalboundary between Europe and Asia, MMK has formany years been upgrading its production lines andbuilding highly productive facilities. Thanks to thislarge-scale modernization effort, the Company hasbeen able to minimize the negative impact of therecent economic crisis and preserve its position of thecountry's leading steel producer.Before the start of the Commission's sessionMr.Medvedev was able to see for himself the scope ofMMK's technological overhaul. The President visitedone of MMK's key production divisions, the BOF Shop,and then was shown around MMK's pride – the 5,000mm Mill which rolls heavy-gauge steel plate formaking large-diameter pipes.48