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

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In order to implement its Mission and efficiently organize its activities the MMK Group maintains constant
relations with
• shareholders and investors;
• the Company’s personnel and trade unions;
• Federal and Local Government Authorities and Political Parties
• local communities ;
• educational institutions;
• environment protection organizations;
• consumers;
• suppliers and contractors.
Relations with Shareholders and Investors
The basic principle t of OJSC MMK’s corporate policy are in line with international and protect the shareholders’
and investors’ rights..
The OJSC corporate policy is based on the principles of equal treatment of all shareholders and compliance with
the requirements of the RF legislation in the sphere of corporate management and information dosclosure. ;
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MMK, on a quarterly basis, publishes the following information on its Internet site:
financial statements according to international standards;
securities issuer’s quarterly reports;
reports on compliance with the corporate governance code.
Following the publication of the statements and information on other material events MMK organizes
conferences and road-shows with foreign investors and shareholders involving MMK’s top managers.
After OJSC MMK accessed the international stock market and increased its free float, it came under close
scrutiny of analysts of Russian and international banks and investment funds who, on a regular basis, issue reports
on the Company’s activities. Each November MMK organizes group visits of the Company for investment banks’
analysts.
MMK’s financial calendar of OJSC MMK is available at:
http://www.mmk.ru/rus/shareholders/fin_calendar/index.wbp.
Relations with the Company’s Employees
and the Unions
The human resources is MMK’s greatest value. The Company’s prosperity is based on employees’ professionalism
and satisfaction with their labour.
The main document regulating the relations between the companies of the MMK Group and their personnel is
the collective agreement encompassing all the aspects of social and labor relations, such as remuneration of labor,
production, labor discipline, labor competition, occupational safety and health, conditions of work and rest, skills
development and training, medical service, support to youth and retired employees.
Performance of this agreement is monitored by authorized government authorities and the Union Committee
of the MMK Group which includes more than one hundred fifty shopfloor union committees of MMK and unites in
its ranks 98% of the employees. .
The key task of MMK’s union organization is to protect the employees’ rights, social guarantees and interests.
Full information on the activities of the union is provided at www.profkom.mmk.ru. The Company employees
can receive qualified counsel on all issues of interest by calling union leaders on special hot line numbers to (such
hot line numbers are available at the site of the Company’s Union Committee ).
The chairman of the Company’s Union Committee is a member of the OJSC MMK Management Board which
serves to bring the Company’s union and top management closer together.
One of the most important functions of MMK’s union organization is to secure the employees’ social guarantees