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PUBLIC JOINT STOCK COMPANY MAGNITOGORSK IRON & STEEL WORKS

(MAGN)
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Public Joint Stock Magnitogorsk Iron & Steel Works : MMK shares successful experience of software robotization

11/28/2021 | 10:40pm EST

A conference titled "RPA Connect. NEXT LEVEL" took place last week. It was devoted to robotisation in manufacturing and industry.

Innovative technology of Robotic Process Automation (RPA) is currently one of the most effective digitalisation tools that is becoming more and more widely used in different areas of industry. Among the key issues discussed by the participants of the conference in Magnitogorsk were the best practices and cases of the application of RPA technology, the experience of market leaders, technology development trends and forecasts in Russia and in the world, economic and qualitative effects of the implementation of robotisation, as well as promising areas of development.

MMK Group now holds a leading position among Russian steel companies in the implementation of software robots. Back in 2018, the RPA Competence and Innovation Centre was established at MMK-Informservice (part of MMK Group), which eventually grew to become Next - a company that provides RPA services not only to MMK Group, but also to other businesses that want to benefit from the application of software robots and other digitalisation tools.

One section of the conference was entirely devoted to the experience of RPA technology application and development at MMK Group. Software robotisation is part of a large-scale digitalisation strategy being implemented at Magnitogorsk Iron & Steel Works. Vadim Feoktistov, MMK's Chief Information Technology Specialist and Director of MMK-Informservice, talked about this in his opening words. The Company's digital initiatives are in line with the main technological trends, and are applied in such areas as data analytics, digital twins, Internet of Things and many others.

Mikhail Verisov, Director of Next, spoke about how RPA technology has been developing at MMK Group. Having started confidently in 2019, the large-scale robotisation project already covered all major functional areas by 2020, making it possible to robotise over a hundred business processes. Today, with more than 40 certified specialists and more than 250 software robots created by Next's Robotics Technology Centre, the Company offers complete turnkey RPA projects. The main advantages of software robots include their ability to work 24/7/365, higher speed, elimination of errors and human factors, their digital footprint and low cost. The average payback period for RPA projects is up to one year.

The organisers of the "RPA Connect. NEXT LEVEL" conference were Robotics Technology Centre Next, Magnitogorsk Iron & Steel Works, MMK-Informservice and UiPath, one of the global leaders in the RPA-solutions market. The event was attended by managers and specialists of IT companies and various industrial enterprises.

Disclaimer

OAO MMK - Magnitogorskiy Metallurgicheskiy Kombinat published this content on 29 November 2021 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 29 November 2021 03:39:02 UTC.


ę Publicnow 2021
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Financials (USD)
Sales 2021 11 547 M - -
Net income 2021 3 069 M - -
Net cash 2021 591 M - -
P/E ratio 2021 2,77x
Yield 2021 22,5%
Capitalization 9 036 M 9 069 M -
EV / Sales 2021 0,73x
EV / Sales 2022 0,83x
Nbr of Employees 17 887
Free-Float 18,7%
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Number of Analysts 4
Last Close Price 0,81 $
Average target price 1,16 $
Spread / Average Target 43,0%
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Managers and Directors
Pavel Vladimirovich Shilyaev Chief Executive Officer & Director
Maria V. Nikulina Head-Finance Resources
Victor Filippovich Rashnikov Chairman
Vadim N. Feoktistov Chief Information Technology Specialist
Valeriy Yaroslavovich Martsinovich Independent Director
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