MIGO GROUP Competitors

Severstal remains a global leader in efficiency, with the highest EBITDA margin in the steel industry globally, positive free cash flow generation throughout the cycle and a track record of achieving its targets. To deliver additional growth, the Company has updated its already proven strategy - retaining its fundamental advantages but adding new elements. Severstal's new vision is to be a leader of the steel industry of the future and the first choice for its customers, employees and partners. To achieve this, the Company is setting out new strategic priorities to distance itself further from its competitors. These are: superior client experience, cost leadership and embracing new opportunities. All three will be supported by Severstal's advanced corporate culture. Superior client experience - Severstal aims to offer our customers unique selling propositions on each target market; Cost leadership - Severstal's goal is to achieve a significant cost advantage in basic steel products; New opportunities - Severstal's objective is to access and consequently benefit from the use of global cutting-edge technology and new business-models. Implementing this set of objectives will support the Company in reaching its financial target of increasing EBITDA by 10-15% annually for the next 5 years. (This excludes pricing/macro factors.)

OJSC MMK is among the world's largest steel producers and is one of the leaders of Russia's steel industry. The company's operations in Russia include a large steel producing complex encompassing the entire production chain, from preparation of iron ore to downstream processing of rolled steel. MMK turns out a broad range of steel products with a predominant share of higher value added goods. In 2008 the company produced 12 mm tonnes of crude steel and 11 mln tonnes of commercial products. MMK Group revenues in 2008 stood at USD 10.55 bn.

NLMK Group is a leading international steel company. The Group is vertically integrated company producing and delivering a comprehensive range of flat and long steel products. NLMK, with over 17 million tonnes of steelmaking capacity, is one of the world's foremost suppliers of slabs and transformer steel and is a leading supplier of high value added products including pre-painted, galvanized and electrical steel as well as a variety of long steel products. With the state of the art production facilities, NLMK is at the cutting edge of modern steel production. The Company's business is highly geographically diversified by sales markets with product deliveries to over 60 countries worldwide.The Company enjoys one of the most competitive production costs among global steelmakers and is known as one of the most profitable steel company globally.