PUBLIC JOINT STOCK COMPANY MAGNITOGORSK IRON & STEEL WORKS

(MAGN)
  Report
End-of-day quote Moscow Micex - RTS  -  05-24
39.20 RUB   +2.16%
05/25Russia Rejects Magnitogorsk Iron & Steel Works' Application to Continue Trading on London Bourse
MT
05/25PJSC MAGNITOGORSK IRON AND STEEL WORKS : MMK notifies about termination of the depositary receipts programme
EQ
05/24PJSC MAGNITOGORSK IRON AND STEEL WORKS : MMK Board meeting results
EQ
SummaryQuotesChartsNewsRatingsCalendarCompanyFinancialsConsensusRevisions 
SummaryMost relevantAll NewsOther languagesPress ReleasesOfficial PublicationsSector newsMarketScreener Strategies

Public Joint Stock Magnitogorsk Iron & Steel Works : MMK to implement new blast furnace decarbonisation technology

01/21/2022 | 12:52am EDT

During the construction of blast furnace No. 11 at Magnitogorsk Iron & Steel Works (MMK), SMS Group will employ decarbonisation technology to ensure high environmental standards at the facility.

By using 'syngas' (synthesis gas), which is a combination of hydrogen and carbon monoxide, SMS Group will improve the efficiency of MMK's processes, as their technology replaces a large part of the solid carbon fuel in the blast furnace process, setting the stage for greater decarbonisation in the future. SMS Group's subsidiary, Paul Wurth, designed this newly developed, environmentally friendly technology, which will be employed at blast furnace No.11. By blowing synthesis gas into the blast furnace shaft, CO2 emissions will be reduced, and the productivity of the furnace will also be increased.

"We welcome the opportunity to continue working with MMK in developing and implementing such innovative solutions" said Georges Rassel, CEO at Paul Wurth. He continued, "this solution will allow our customer to quickly achieve a significant reduction in CO2 emissions with a relatively small investment".

The contract for the blast furnace No.11 project was signed in June 2021. Advanced technologies developed by the Paul Wurth company will be used in the construction of the new blast furnace, which will allow MMK to meet very high environmental efficiency standards.

"Part of our contribution to this project is the manufacturing technology, but also supporting the manufacturing process in using syngas, which can be blown into the blast furnace shaft", highlighted Dr. Thomas Hansmann, the technical director of Paul Wurth, and head of Metallurgy at SMS Group. "This technology has the potential to deliver a significant reduction in emissions. It is a flexible system, which allows for an increase in overall performance".

SMS Group has 150 years of experience in technology and equipment for steel production and supports clients like MMK all over the world. Through the company Paul Wurth, a subsidiary of SMS Group, they offer customers a wide range of services, including for the construction, maintenance and servicing of whole blast furnaces, but also of Direct Reduction Furnaces, under license from Midrex®. SMS Group's technological solutions are supporting the transformational movement of the global steel sector towards a low-carbon, environmentally friendly steel future.

Disclaimer

OAO MMK - Magnitogorskiy Metallurgicheskiy Kombinat published this content on 21 January 2022 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 21 January 2022 05:51:02 UTC.


© Publicnow 2022
All news about PUBLIC JOINT STOCK COMPANY MAGNITOGORSK IRON & STEEL WORKS
05/25Russia Rejects Magnitogorsk Iron & Steel Works' Application to Continue Trading on Lond..
MT
05/25PJSC MAGNITOGORSK IRON AND STEEL WOR : MMK notifies about termination of the depositary re..
EQ
05/24PJSC MAGNITOGORSK IRON AND STEEL WOR : MMK Board meeting results
EQ
05/24Public Joint Stock Company Magnitogorsk Iron & Steel Works Recommends Not to Pay the Di..
CI
05/20PUBLIC JOINT STOCK MAGNITOGORSK IRON : “MMK Is the Largest Supplier of Rolled Produc..
PU
05/20PUBLIC JOINT STOCK MAGNITOGORSK IRON : MMK Launches Unique Logistics Centre in Togliatti S..
PU
05/13PUBLIC JOINT STOCK MAGNITOGORSK IRON : MMK Launches Machine Vision-Powered Gas Leakage Det..
PU
05/12Nornickel is first Russian firm to get OK to keep listing abroad
RE
05/11PUBLIC JOINT STOCK MAGNITOGORSK IRON : MMK Reduces Dust Emissions
PU
05/06PJSC MAGNITOGORSK IRON AND STEEL WOR : MMK notifies about 2024 Eurobond coupon payment in ..
BU
More news
Financials (USD)
Sales 2022 9 304 M - -
Net income 2022 888 M - -
Net cash 2022 508 M - -
P/E ratio 2022 -
Yield 2022 33,2%
Capitalization 7 363 M 7 363 M -
EV / Sales 2022 0,74x
EV / Sales 2023 0,70x
Nbr of Employees 17 887
Free-Float 20,2%
Chart PUBLIC JOINT STOCK COMPANY MAGNITOGORSK IRON & STEEL WORKS
Duration : Period :
Public Joint Stock Company Magnitogorsk Iron & Steel Works Technical Analysis Chart | MarketScreener
Full-screen chart
Technical analysis trends PUBLIC JOINT STOCK COMPANY MAGNITOGORSK IRON & STEEL WORKS
Short TermMid-TermLong Term
TrendsBearishBearishBearish
Income Statement Evolution
Consensus
Sell
Buy
Mean consensus BUY
Number of Analysts 3
Last Close Price 0,66 $
Average target price 0,97 $
Spread / Average Target 47,8%
EPS Revisions
Managers and Directors
Pavel Vladimirovich Shilyaev Chief Executive Officer & Director
Maria V. Nikulina Head-Finance Resources
Victor Filippovich Rashnikov Chairman
Vadim Nikolayevich Feoktistov Chief Specialist-Information Technology
Andrey Dmitriyevich Kartunov Head-Science & Technology
Sector and Competitors
1st jan.Capi. (M$)
PUBLIC JOINT STOCK COMPANY MAGNITOGORSK IRON & STEEL WORKS-43.55%7 363
NUCOR12.71%34 232
ARCELORMITTAL1.44%26 758
POSCO HOLDINGS INC.5.83%17 293
TATA STEEL LIMITED-10.10%15 739
STEEL DYNAMICS, INC.29.92%15 216