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Magnitogorsk Iron & Steel Works Photo Exhibition "Steel Heart of Russia" Opens in Brussels



Magnitogorsk Iron & Steel Works Photo Exhibition "Steel Heart of Russia" Opens
                                 in Brussels

  PR Newswire

  BRUSSELS, September 17, 2013

BRUSSELS, September 17, 2013 /PRNewswire/ --

A photo exhibition dedicated to Magnitogorsk Iron & Steel Works (MMK) opened
on 17 September at the Russian Centre of Science and Culture in Brussels.

The exhibition captures everyday life at the Magnitogorsk works. Today the
plant is a modern, high-tech metallurgical complex focused on meeting demand
for ferrous metals for export and the domestic market. MMK's extensive
investment programme over the past decade has led to the rebirth of this
metallurgical giant.

"The Magnitogorsk plant's history, stretching back more than 80 years,
reflects the history of the whole of Russia through the last century, rich in
famous names and great events. Today the plant is one of the most up-to-date
metallurgical production facilities anywhere in the world, and uses the latest
cutting-edge technologies," notes MMK Vice-President Vladimir Ruga in his
opening remarks. "MMK is implementing a long-term investment programme to meet
consumer demand and increase output volumes of high-value-added (HVA)
products. Between 1997 and 2012 output of crude steel and finished products at
MMK grew by more than 1.6 times, and the group's total investment in technical
upgrades over the past 12 years totals USD 8.8 billion."

MMK (Fitch: BB+, Moody's: Ba3) is one of the world's largest steel producers,
and Russia's leading ferrous metals enterprise. The company's assets in Russia
are a large, fully integrated steel production complex that encompasses the
entire production chain, from processing of iron ore to downstream production
of rolled steel. MMK's broad product assortment is dominated by HVA products.
The group is one of the World Steel Association's top 40 companies. In 2012
MMK Group produced 13 million tons of crude steel and 11.9 million tons of
finished products. MMK Group had USD 9.328 billion of revenue in 2012, with
EBITDA of USD 1.356 billion.

The photo exhibition runs from 17-29 September. It is supported by the Embassy
and Trade Mission of the Russian Federation to the Kingdom of Belgium and the
Belgian-Luxembourg Chamber of Commerce for Russia and Belarus.

Contact: Peter Morley, +44-7927-186645, morley@mcomgroup.com
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