Raspadskaya May Miss 2011 Output Target by 24%, Kommersant Says
OAO Raspadskaya (RASP), a Russian producer of coal for steelmakers, may produce less than 6.5 million metric tons this year, missing its output target by 24 percent, Kommersant reported, citing analysts’ estimates.
Raspadskaya produced 400,000 tons of coal a month in July and August versus average 576,000 tons a month in the first half, the Moscow-based newspaper said, citing Metal-Courier data. The company will probably miss its full-year output target of 8.5 million tons, according to the newspaper.
Raspadskaya had a market value of about $2.2 billion yesterday, while steelmaker Evraz Group SA (EVR) and Raspadskaya management have been seeking to sell the company for more than $5 billion in the first half of the year, Kommersant said.
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