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Magnitogorsk Iron and Steel Works is cutting back capital investments in order to enhance profitability.
In December 2012, the Board of Directors of MMK will discuss the company’s strategy until 2022, informs Interfax with reference to MMK’s CEO Boris Dubrovsky.
The company’s objective is to become the leader in the industry in terms of the prime cost of products. In the near future, MMK will not increase production, conveyed Dubrovsky’s words for Vedomosti a representative of MMK. “We need to concentrate on selling our services and not on merely manufacturing metal,” said the CEO according to Interfax.