Magnitoorsk iron and steel works, the largest iron and steel complex in Russia, was founded in 1929; iron was first produced in 1932; steel and steel were produced in 1933. During the patriotic war, armor steel and shell steel were produced for the military industry. At that time, 50% of the armor plates used by Soviet tanks came from magnitorsk. Magnitos wrote in Forbes Ranked 670 among the top 2000 global enterprises in 2014.
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