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Raspadskaya Retreats Most in Month as Production Target Reduced

Sept. 24 (Bloomberg) -- OAO Raspadskaya, a Russian producer of coal for steelmaking, fell the most in almost a month after cutting its production targets through 2013.

Raspadskaya sank as much as 2.9 percent and closed down 2.2 percent at 78.76 rubles in Moscow, the biggest drop since Aug. 29.

The company cut its coal production target for this year by 33 percent to 7 million metric tons and reduced 2013 guidance by as much as 15 percent, Chief Executive Officer Gennady Kozovoy said during a conference call Sept. 21.

To contact the reporter on this story: Ilya Khrennikov in Moscow at

To contact the editor responsible for this story: John Viljoen at

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