Mr. Victor Rashnikov, head of the Russian steel producer Magnitigorsk Iron and Steel Works (MMK), has emphasized that the company will not be considering any mergers with domestic or foreign companies in the near future.
During a press interview, Mr. Rashnikov pointed out that MMK had been considering the possibility of merging with one of the other Russian steel producers such as Severstal, Novolipetsk Steel (NLMK) or Evraz Group, but now has decided instead to expand its presence in the foreign markets by means of creating joint ventures.
On MMK's future expansion plans, Mr. Rashnikov said that the company is particular interested in the Middle East and Asian markets.