Mechel Reports Chelyabinsk Governor's Visit to Chelyabinsk Metallurgical Plant
CHELYABINSK, Russia, Feb. 26, 2013 (GLOBE NEWSWIRE) -- Mechel OAO (NYSE:MTL),
one of the leading Russian mining and metals companies, reports the visit of
Chelyabinsk Region's Governor Mikhail Yurevich to Chelyabinsk Metallurgical
Chelyabinsk Region's Governor Mikhail Yurevich, First Deputy Governor Sergei
Komyakov, Deputy Governor Ivan Feklin, and the regional administration's
Industry and Natural Resources Minister Yegor Kovalchuk came to Chelyabinsk
Metallurgical Plant as part of a working trip.
The delegation was hosted by Mechel OAO's Vice-President for Technological
Development Andrey Deineko, Mechel-Steel Management Company's Chief Executive
Officer Vladimir Tytsky and Chelyabinsk Metallurgical Plant OAO's Managing
Director Rashid Nugumanov.
As part of the visit, the delegation toured the construction site for
Chelyabinsk Metallurgical Plant's universal rolling mill — the chief
investment project for Mechel's steel division. The mill will produce
high-quality rails up to 100 meters long with state-of-the-art technology.
These rails will be superior to their foreign analogues on several key counts,
due to the specifics of rail exploitation in Russia. Once the construction
project, which is currently in its final stage, is complete, the plant will
create over 1,000 additional jobs. The project will cost an estimated total of
over 25 billion rubles.
Chelyabinsk Region's governor hailed the key investment project by saying, "I
am grateful to Mechel's shareholders for choosing Chelyabinsk Region to
implement such a project that will provide high tax receipts and jobs for
highly qualified specialists. The plant created a complete technological
production line for long rails, from making high-quality steel to rolling and
thermal processing. The mill can produce not only rails of high resistance to
wear, contact endurance and reliability in low temperatures, but also
structural shapes, which are currently in high demand due to growing volumes
of construction in the country."
Mechel is one of the leading Russian companies. Its business includes four
segments: mining, steel, ferroalloy and power. Mechel unites producers of
coal, iron ore concentrate, nickel, ferrochrome, ferrosilicon, steel, rolled
products, hardware, heat and electric power. Mechel products are marketed
domestically and internationally.
The Mechel OAO logo is available at
Some of the information in this press release may contain projections or other
forward-looking statements regarding future events or the future financial
performance of Mechel, as defined in the safe harbor provisions of the U.S.
Private Securities Litigation Reform Act of 1995. We wish to caution you that
these statements are only predictions and that actual events or results may
differ materially. We do not intend to update these statements. We refer you
to the documents Mechel files from time to time with the U.S. Securities and
Exchange Commission, including our Form 20-F. These documents contain and
identify important factors, including those contained in the section captioned
"Risk Factors" and "Cautionary Note Regarding Forward-Looking Statements" in
our Form 20-F, that could cause the actual results to differ materially from
those contained in our projections or forward-looking statements, including,
among others, the achievement of anticipated levels of profitability, growth,
cost and synergy of our recent acquisitions, the impact of competitive
pricing, the ability to obtain necessary regulatory approvals and licenses,
the impact of developments in the Russian economic, political and legal
environment, volatility in stock markets or in the price of our shares or
ADRs, financial risk management and the impact of general business and global
CONTACT: Mechel OAO
Tel: + 7 495 221 88 88
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