Russia’s Mechel May Close One Romanian Unit, Money Channel Says

OAO Mechel (MTLR), Russia’s largest producer of coal for steelmakers, may shut down one of its Romanian units beginning in September, private television station The Money Channel reported, citing union members.

Mechel seeks to fire about 800 employees from its Campia Turzii unit in the center of the country, a measure that could be followed by a complete shutdown of the unit, according to The Money Channel.

To contact the reporter on this story: Andra Timu in Bucharest at atimu@bloomberg.net

To contact the editor responsible for this story: James M. Gomez at jagomez@bloomberg.net

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