Annual Report 2010 - Magnitogorsk Iron & Steel Works

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ММК LiveSocialResponsibilityMMK Group includes socially oriented companies which assumeresponsibility for the well-being of citizens of Magnitogorsk and otherregions where the Company has a presence. The list of social programmesincludes health protection and occupational safety for employees,environmental protection and resource conservation, personnel training,development of the local community and many others.By financing social programmes, MMK Group creates a sustainable basisfor the long-term development of Magnitogorsk and the regions where itoperates, by implementing a number of social and infrastructure projectsand programmes.In 2010, MMK Group spent USD 77 million on supporting various socialprogrammes, which is USD 8 million more than in 2009 (USD 69 million). Theparent company (OJSC MMK) allocated RUB 1.5 billion (USD 50 million) forsocial policy in 2010 .Health Care and Social Support to PersonnelMedical care programmes are the mainstay of the Company’s social policy.The Company spent RUB 353 million on implementing preventive health careand treatment programmes.MMK is implementing a programme of in-depth medical examinations whichallow it to carry out additional check-ups of workers involved in hazardousproduction.In 2010, 16,337 MMK’s employees with their families spent vacationsat MMK’s resorts and holiday centres, with 50% of them receiving spatreatment. The Company contributed RUB 238 million towards covering thecost of such vacations.68* - this amount includes the funds allocated for financing the Metallurg Ice Hockey Club
16 22 26 28 32 38 50 72MMK , sBusiness ModelMMK’s Missionand StrategyOJSC MMK Boardof Directors'The Company'sProductionSales MarketsFinancesCorporateGovernanceEnvironmentProtectionIn the summer of 2010 recreational and educational camps “Uralskie Zori”and “Gornoye Uschelye” received 3,620 children of MMK’s employees. MMKGroup spent RUB 40 million on compensations for the children’s stay in thesecamps.OJSC MMK continues to implement the maternity support programmelaunched in 2004. In 2010 the Company spent RUB 34 m on this programme.Besides, since 2008 OJSC MMK has been operating a programme of supportto large families. The programme reached 307 families of MMK’s employeeswith three or more children under 18 years old, with a cost in 2010 of RUB 9million.MMK’s housing programmes are implemented by the Klyuch housinginvestment fund. In 2010, it started the construction of a 17-storey buildingcomprising 112 apartments.As part of the national project “Affordable and Comfortable Housing”, in2006 OJSC MMK launched a programme to assist young steel-makers'families in purchasing apartments. Every year 30 young families receivesubsidies in the amount of RUB 80,000 each and a chance to purchase a oneroomapartment at a subsidised price.Much attention is devoted to sports. Every year, winter and summer sportscompetitions are held among various MMK’s divisions. 45 Sports events wereheld in 2010 at the sites and facilities of the Metallurg-Magnitogorsk SportsClub which gathered more than 8,800 employees and members of theirfamilies. Overall, the Company spent RUB 86 million for these purposes.Healthy Way of Life and SportsTo encourage sports and recreational activities MMK has built a number ofsports facilities.Every year, winter and summer sports competitions are held among variousMMK’s divisions which in 2010 gathered more than 3,400 participants.In 2010, Metallurg-Magnitogorsk sports grounds and sports clubs facilitieshosted 45 sporting events, drawing more than 8,800 employees and theirfamilies.MMK also offers corporate outings to the Company-owned ski resorts andthe Vodopad Chudes Water Park. In 2010, ski resorts in Abzakovo and at LakeBannoye near Magnitogorsk were visited by 12,671 employees and theirfamilies.The Company spent RUB 86 million to maintain the Metallurg-MagnitogorskSports Club and to arrange mass entertainment sporting events.MMK conducts its charitable activities and implements its social assistanceprogrammes through the Metallurg Charity Foundation.In 2010, the Metallurg Foundation received contributions for a total of RUB417 million, 93% of which were contributed by MMK Group.The Foundation’s main activity is focused on targeted social support andaid to the disabled, Company veterans, retirees, and the least protectedcategories of population through an extensive network of social facilities.In2010, OJSC MMK allocated RUB 230 million for social support of retirees anddisabled people within the framework of the Zabota("Care") Programme.Steel & Style , 10 MMK ANNUAL REPORT 69
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ContentsAnnual Report2010Editor-in-
Page 6 and 7:
Products for the Automotive Sector6
Page 8:
Statement of the Chairmanof the Boa
Page 11 and 12:
16 22 26 28 32 38 50 72MMK , sBusin
Page 13:
16 22 26 28 32 38 50 72MMK , sBusin
Page 16 and 17:
Business Model ММК16
Page 18 and 19: 18Diverse Product Mix and Sales Foo
Page 20 and 21: Significant Growth Potential20
Page 22 and 23: NEW TRACKSMMK’s Missionand Strate
Page 24 and 25: To localize their production, forei
Page 26 and 27: OJSC MMK Board of Directors' Report
Page 28 and 29: The Company's ProductionOperationsT
Page 30 and 31: The Company's Production Operations
Page 33 and 34: 16 22 26 28 32 38 50 72MMK , sBusin
Page 37 and 38: Any colouror hue foryourproduct!Col
Page 49 and 50: The Head of the State also highly p
Page 67: Risk ManagementIn 2010, the followi
Page 76 and 77: MMK Industrial Waste108644,8Total s
Page 78 and 79: Stakeholder EngagementCorporate soc
Page 80 and 81: Demag, ThyssenKrupp, АМСОМ, AL
Page 82 and 83: Information forShareholders andInve
Page 84 and 85: OJSC MMK Share Quotes and Trading V
Page 86 and 87: conferences for investors with MMK
Page 88 and 89: Open Joint Stock CompanyMagnitogors
Page 90 and 91: CONSOLIDATED STATEMENT OF FINANCIAL
Page 92 and 93: CONSOLIDATED STATEMENT OF CHANGES I
Page 94 and 95: CONSOLIDATED STATEMENT OF CASH FLOW
Page 96 and 97: Information on Companies in Which O
Page 98 and 99: Part Description PagePart 2: Financ
Page 100 and 101: Use of the GRI Reporting Framework
Page 102: No. Description Pages CommentsEN2 P
Page 106 and 107: General Information on OJSC MMKFull
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Annual Report 2010 - Magnitogorsk Iron & Steel Works

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