MMK strengthens position in top 20 of Forbes rating

Magnitogorsk Iron and Steel Works (MMK) took 15th place in Russian Forbes’ rating of the 200 largest private companies in Russia.

Forbes has published a new instalment of its rating of the 200 largest private companies in Russia based on 2019 financial results. The rating includes companies whose capital is controlled by individuals (over 50%) and is based on company revenues for the previous year. MMK took 15th place in the rating in terms of 2019 revenue, thereby moving up one place compared to last year's rating.

MMK is one of the world's largest steel producers and a leading Russian metals company. The Company's Russian assets include a large steel producing complex encompassing the entire production chain, from preparation of iron ore to downstream processing of rolled steel. MMK turns out a broad range of steel products with a predominant share of high-value-added products. In 2019 MMK Group produced 12.5 million tonnes of crude steel and 11.3 million tonnes of commercial steel products. MMK Group had sales in 2019 of USD 7.566 million and EBITDA of USD 1.797 million.