Tuesday, August 30, 2011

Russian steel company acquired full stock of the BVI company

OJSC Magnitogorskiy Metallurgicheskiy Kombinat (MMK), which is one of the largest world steel manufacturers leading in Russia's iron and steel industry, became the owner of 100% of shares of Great Plans Company Limited, incorporated under the British Virgin Islands law. The statement regarding the establishment of the affiliated company and in respect of termination of the basis of control over the company was issued on August 5, 2011.

The assets of OJSC Magnitogorskiy Metallurgicheskiy Kombinat in Russia are a large iron and steel complex that encompasses the entire production chain. MMK produces a great variety of metal products with prevalence of greatest added value. In 2010, MMK produced 11.4 million tons of steel and 10.4 million tons of finished metal products.