Annual report 2007 - Magnitogorsk Iron & Steel Works ...

More documents

Recommendations

Info

1 2 Sergey V. Krivoshchekov (born in 1961) – Vice-President for Property Management of the OOO MMK Managing Company; Russian citizen; first elected member of the Board of Directors on May 19, 2000; represents a shareholder of OJSC MMK, Mintha Holding Limited; since 2006 member of the Board of MMK Holdings (Asia) Ltd.; higher education, graduate of Magnitogorsk Institute of Mining and Metallurgy, 1983, metallurgical engineer; Ph.D (economics). Zumrud K. Rustamova (born in 1970), Head of the Moscow Office and Deputy CEO of Polimetall; Russian citizen; first elected member of the Board of Directors on April 21, 2006; represents a shareholder of OJSC MMK, OOO Mekom; higher education, graduated from Moscow Institute of Economic and Statistics, 1992 Andrey A. MOROZOV (born in 1952) – first elected member of the Board of Directors on May 22, 1998,; Russian citizen; represents a shareholder of OJSC MMK, Mintha Holding Limited; since 2001 – member of the management board of the Autonomous Non-Profit Organization Medical Care Unit of the City Administration of Magnitogorsk and OJSC MMK; since 2007 – member of the Board of Directors of OJSC MMK-Profil’-Moskva; higher education, graduate of Magnitogorsk Institute of Mining and Metallurgy, 1974, metallurgical engineer; Magnitogorsk Academy of Mining and Metallurgy, 1993, manager; Ph.D (technology), D.Sc (economics). Rafkat S. Takhautdinov (born in 1958) – Vice-President for Strategic Development of OOO MMK Managing Company; Russian citizen; first elected member of the Board of Directors on May 5, 1999; represents a shareholder of OJSC MMK, Mintha Holding Limited; since 2005, Chairman of the Board of Directors of OJSC MMK-METIZ; since 2007, member of the Board of Directors of MMK Atakaş Metalurji Sanayi, Ticaret ve Liman İşletmeciliği Anonim Şirketi; higher education, graduate of Magnitogorsk Institute of Mining and Metallurgy 1986 , metallurgical engineer, D.Sc (technology).
ANNUAL REPORT OPEN JOINT-STOCK COMPANY MAGNITOGORSK IRON & STEEL WORKS SEASON 2007 Peter Charow (born in 1954) – British Petroleum Regional Director for Russia, CIS and Turkey; USA citizen; first elected member of the Board of Directors on 30.03.2007; represents a shareholder of OJSC MMK’s, ООО Mekom (trustee); education: 1977: Bachelor of Arts in Political Science, Swarthmore College, Swarthmore, Pennsylvania, USA 1981 - Master of Arts in Political Science, Columbia University, New York, New York, USA. 1986 - Master of Philosophy, Columbia University, New York, New York, USA. 2006 - Executive MBA; Tuck School of Business, Dartmouth College, Hanover, New Hampshire, USA. Sir David Logan (born in 1943) - Director of the Centre for Studies in Security and Diplomacy, Birmingham University; citizen of the United Kingdom; first elected member of the Board of Directors on 30.03.2007; represents a shareholder of OJSC MMK, – ООО Mekom (trustee); since 2002 – member of the Supervisory Board of Efes Breweries International; since 2002, non-executive director of European Nickel plc; education: Charterhouse and University College, Oxford. There were no changes in the membership of the Board of Directors in the accounting year. Total Amount of Remuneration Paid or to be Paid for the Accounting Year The OJSC MMK’s Annual General Shareholders Meeting approved the size of remunerations and compensations to be paid to members of the Company’s Board of Directors in their period of office from April of 2007 through March of 2008 in the total amount of RUB 60 m. The amount of remuneration and compensations is expected to be RUB 52.31 m in 2007 – 2008 including: - in the period from April of 2007 to December of 2007 the actual amount of remuneration and compensations was RUB 40.21 m; - in the period from January of 2008 to March of 2008 the amount of remuneration and compensation is expected to be RUB 12.1 m. Information on the Company’s Individual Executive Body At the Extraordinary General Shareholders’ Meeting of OJSC MMK held on May 26, 2006, it was decided to transfer the authorities of the individual executive body (CEO of OJSC MMK) under a contract to a managing company, OOO MMK Managing Company (limited liability company). OOO MMK Managing Company is a 100% subsidiary of OJSC MMK. OOO Managing Company was registered on March 06, 2006 by the Inspectorate of the Federal Tax Authority of the Ordzhonikidzevsky District of the city of Magnitogorsk, Chelyabinsk Region, under Main State Registration Number 1067445004110, INN 7445028860, KPP 744501001. The registered address of OOO MMK Managing Company: ul. Kirova 93, Magnitogorsk, Chelyabinsk region, 455000, Russian Federation. The individual executive body of OOO MMK Managing Company is Mr. Victor F. Rashnikov. The key objectives of OOO MMK Managing Company consist in the organization of an efficient managing system, expansion of OJSC MMK’s presence on the steel markets and development and modernization of the production facilities. To attain the above objectives OOO MMK Managing Company does the following: 1 3
Page 2 and 3:
DISCLAIMER The present Annual Repor
Page 4 and 5:
Victor Rashnikov, Chairman of the M
Page 6 and 7:
Description Capitalization (as at y
Page 8 and 9:
Content INTRODUCTORY ADDRESS of Vic
Page 10 and 11:
In 2007 the Magnitogorsk Iron and S
Page 13 and 14:
ANNUAL REPORT OPEN JOINT-STOCK COMP
Page 15 and 16:
Page 17 and 18:
Page 19 and 20:
Page 21 and 22:
Page 23 and 24:
Human Resources The average payroll
Page 25 and 26:
Page 27 and 28:
Page 29 and 30:
Using these mills, MMK manufactures
Page 31 and 32:
Page 33 and 34:
as regards the organization of thei
Page 35 and 36:
Relations with Local Communities in
Page 37 and 38:
Page 39 and 40:
Page 41 and 42:
Page 43 and 44:
• • • ANNUAL REPORT OPEN JOIN
Page 45 and 46:
Page 47 and 48:
Page 49 and 50:
10,000 8,000 6,000 4,000 2,000 0 AN
Page 51 and 52:
70 60 50 40 30 20 10 0 Assets Curre
Page 53 and 54:
4 3 2 1 0 Liquidity dynamics of MMK
Page 55 and 56:
In accordance with its borrowing po
Page 57 and 58:
Page 59 and 60:
1.0 0.8 0.6 0.4 0.2 Trends in OJSC
Page 61 and 62:
Page 63 and 64:
Page 65:
The growing demand and buoyant pric
Page 68 and 69:
8 Major Regional Markets for OJSC M
Page 70 and 71:
70 LLC Uralsibtrade OJSC Uraltrubpr
Page 72 and 73:
72 The changes in the domestic sale
Page 74 and 75:
7 Victor Kutischev, OJSC MMK’s Co
Page 76 and 77:
7 Overview of the Iron Ore and Coal
Page 79 and 80:
Page 81 and 82:
Page 83 and 84:
Page 85 and 86:
• • Expenditures on major capit
Page 87 and 88:
Page 89 and 90:
tons thanks to the installation of
Page 91 and 92:
Page 93 and 94:
Page 95 and 96:
Page 97 and 98:
Currency Risk A significant portion
Page 99 and 100:
Page 101 and 102:
Goals Planned value Actual value Ac
Page 103 and 104:
Page 105 and 106:
The average wages at MMK are 35% hi
Page 107 and 108:
Page 109 and 110:
# Causes of injuries 2003 200 200 2
Page 111 and 112: ANNUAL REPORT OPEN JOINT-STOCK COMP
Page 119 and 120: Environmental Expenditures 2007 saw
Page 121 and 122: 6.00 5.16 5.00 4.00 3.00 2.00 1.00
Page 125: ANNUAL REPORT OPEN JOINT-STOCK COMP
Page 128 and 129: 128 Exhaustive, precise and timely
Page 130 and 131: 130 Report on Payment of Declared (
Page 132 and 133: 132
Page 134 and 135: 13 Information on Equity Capital As
Page 136 and 137: 13 Liubov Gamper, OJSC MMK’s Dire
Page 138 and 139: 138 Audit Committee Chairman of the
Page 140 and 141: 1 0 # 5. 6. 7. Provisions of the Co
Page 142 and 143: 1 2 # 18. 19. 20. 21. 22. 23. Provi
Page 144 and 145: 1 # 31. 32. 33. 34. 35. 36. 37. Pro
Page 146 and 147: 1 # 45. 46. 47. 48. Provisions of t
Page 148 and 149: 1 8 # Provisions of the Code of Cor
Page 150 and 151: 1 0 # 73. 74. 75. Provisions of the
Page 152 and 153: 1 2 Director for Sales Director for
Page 154 and 155: 1 Commercial Director Director for
Page 156 and 157: 1 • • • • • • • •
Page 158 and 159: 1 8 • • • • • • • •
Page 160 and 161: 1 0 Protection Policy which regulat
Page 164 and 165: 1 - exercises the authorities of th
Page 166 and 167: 1 Victor A. Kutischev (born in 1958
Page 168 and 169: 1 8
Page 170 and 171: 170
Page 172 and 173: 172 1. Date of Publication of the L
Page 181 and 182: • settlement procedure - by insta
Page 185 and 186: 24) Services Agreement # 150577 bet
Page 187 and 188: • • • validity period - till
Page 189 and 190: The following persons are recognize
Page 191 and 192: The following persons are recognize
Page 193 and 194: 61) rental agreement # 152445 betwe
Page 195 and 196: • validity period - from the date
Page 197 and 198: days from the receipt of invoice;
Page 201 and 202: • • • settlement procedure -
Page 203 and 204: The Body which approved the transac
Page 205 and 206: • • • validity period - till
Page 211 and 212: • • • • ANNUAL REPORT OPEN
Page 213 and 214:
• settlement procedure - funds tr
Page 215 and 216:
164) paid service agreement # 16001
Page 217 and 218:
The Body which approved the transac
Page 219 and 220:
There are no beneficiaries under th
Page 221 and 222:
during the shipment, with a discoun
Page 223 and 224:
• supply period - until next Annu
Page 225 and 226:
Page 227 and 228:
Page 229 and 230:
CONSOLIDATED BALANCE SHEETS AS OF D
Page 231 and 232:
Note Years ended December 31, 2007
Page 233 and 234:
ASSETS I. NON-CURRENT ASSETS Line c
Page 235 and 236:
LOSS AND PROFIT STATEMENT for 2007
Page 237 and 238:
BREAKDOWN OF INDIVIDUAL PROFITS AND
Page 239 and 240:
3.3 Reporting cycle Date of Publica
Page 241 and 242:
EN10 Percentage and total volume of
Page 244:
The OJSC MMK’s Annual Report is e
show all

Annual report 2007 - Magnitogorsk Iron & Steel Works ...

You also want an ePaper? Increase the reach of your titles

Delete template?

Save as template?