MECHEL ANNOUNCES LAUNCH OF NEW PRODUCTION LINE AT BELORETSK METALLURGICAL PLANT
Beloretsk, Russia – December 20, 2010 – Mechel OAO (NYSE: MTL), one of the
leading Russian mining and steel companies, announces the launch of a new
production line for steel electrode copper-coated wire on December 18 at its
Beloretsk Metallurgical Plant (BMP) subsidiary.
The commissioning ceremony was attended by Plenipotentiary Presidential
Representative in the Volga Federal District Grigory Rapota, President of the
Republic of Bashkortostan Rustem Khamitov, Deputy Prime Minister of the Republic
of Bashkortostan Yuri Pustovgarov, Mechel OAO’s Chairman of the Board of
Directors Igor Zyuzin, BMP’s Managing Director Viktor Kamelin and other guests.
At the ceremony, held in the plant’s workshop №6, Plenipotentiary Presidential
Representative in the Volga Federal District Mr. Rapota and President of the
Republic of Bashkortostan Mr. Khamitov congratulated the metallurgists with the
event. Mr. Rapota noted that the plant not only did not yield its positions
during the crisis, but strengthened them.
After Mr. Rapota, Mr. Khamitov and Mr. Zyuzin launched the new line by pressing
a symbolic button, Mr. Kamelin described the line’s new technology and advised
the plant’s guests of its production’s qualities and applications. As the guests
watched, the first meters of copper-coated wire were produced and packaged.
The new production line can produce annually 7.9 thousand tonnes, including 4.2
thousand tonnes of 0.8- to 2.0-mm steel electrode copper-coated wire and 3.7
thousand tonnes of 3.0-mm bright wire.
“The steel electrode wire is in steady demand and is used in construction,
energy, automobile, oil and gas industries. The Beloretsk Metallurgical Plant
has proved itself as a reliable supplier of copper-coated wire. With this
launch, the enterprise will boost its presence on the hardware market,” Mechel
OAO’s Chairman of the Board of Directors Igor Zyuzin noted.
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Mechel OAO
Ekaterina Videman
Tel: + 7 495 221 88 88
ekaterina.videman@mechel.com
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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, steel, ferrochrome, ferrosilicon, rolled products,
hardware, heat and electric power. Mechel products are marketed domestically and
internationally.
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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 economic
conditions.