OREANDA-NEWS. On November 01, 2007 Magnitogorsk Iron and Steel Works Open Joint Stock Company announced the increase of its stake in OAO "Bashmetalloptorg" from 25,67% to 87,99%, reported the press-centre of MMK.

OAO MMK’s participation in the authorized capital of OAO "Bashmetalloptorg" is in line with Magnitogorsk Iron and Steel Works strategic plans towards creation of its service metal centre system and contributes to domestic distribution of MMK’s production. It also allows to meet the consumer service requirements better.