MMK and ChTPZ agree on strategic cooperation

The Russian steelmaker Magnitogorsk Iron and Steel Works (MMK) and one of the country's largest pipe producers, ChTPZ Group, have concluded a strategic partnership agreement up to the year 2015. Under the agreement, MMK is to give priority to ChTPZ Group's orders in its production. Meanwhile, ChTPZ Group has guaranteed the purchase of agreed volumes of steel products from MMK. In addition, under the agreement the two companies have agreed to cooperate and provide necessary assistance in MMK's construction of a new plate mill ’5000', on the one hand, and in ChTPZ Group's construction of a new pipe workshop, on the other.