A delegation of specialists from Magnitogorsk Iron and Steel Works (MMK) headed by the company's CEO Pavel Shilyaev made a working visit to the Lysvensky metallurgical plant in the Perm Krai.

During the visit, Pavel Shilyaev met with the Governor of the Perm Krai Maxim Reshetnikov. He presented to the head of the region the development strategy for MMK Group, including the Lysvensky plant, which became part of the Group in December 2017. Maxim Reshetnikov announced support for MMK's plans for the further development of the Lysvensky enterprise.

"The government of the Perm Krai supports the further development of industry in the region, the growth of production output and the sale of finished products, and that people would receive a fair wage, and to this end we are ready to provide you with assistance and support of all kinds," Maxim Reshetnikov stressed.

At a press conference following the visit to the Lysvensky plant, Pavel Shilyaev spoke of the positive effect of the integration of the plant in the production chain of MMK Group.

"This production site is well integrated with MMK Group and will in the future be able to expand its production line. Ultimately, this will increase the cumulative efficiency and competitiveness of MMK Group. We have formulated a production schedule for the Lysvensky metallurgical plant for 2018. I think that this year should become a period of increasing production and market share for the Lysvensky plant," Pavel Shilyaev said.

According to the plant's General Director Sergey Dubovsky, in 2017 the enterprise increased its personnel by two thirds, but already the employees are working at full capacity. He outlined the priorities for the enterprise; the achievement of full production capacity, the development of new types of products and an increase in productive efficiency.

About MMK

MMK is one of the world's largest steel producers and a leading Russian metals company. The company's operations in Russia include a large steel-producing complex encompassing the entire production chain, from the 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 2016, the company produced 12.5 million tonnes of crude steel and 11.6 million tonnes of commercial steel products. MMK Group had sales in 2016 of USD 5,630 million and EBITDA of USD 1,956 million.

Investor Relations Department:

Andrey Serov, Head of IR

tel.: +7 (3519) 24-52-97

E-mail: serov.ae@mmk.ru

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