The Arbitration Court of the North Caucasus Federal District has voided rulings of previous courts to charge metals producer Mechel 12.7 billion rubles in favor of Dutch company Atrix, owner of the Rostov Electrometallurgical Plant. In July, the Arbitration Court of the Rostov region ordered LLC NK Invest, Mechel-Steel, Mechel, and Mechel-Mining to redeem 5.085…
Mechel-Service has supplied 1.5 thousand tons of beams for the construction of the covered hockey stadium “Yenisei” in Krasnoyarsk. The company also supplies metal for another major sports arena in Siberia – the fencing center in Novosibirsk. “The sale of beams at the Novosibirsk branch in January-October increased by 66% YoY. The Mechel metal is…
Russian metals and mining group Mechel will export up to 300,000 tons of coal per year to Japan’s Itochu Corporation under a long-term contract, the company said in a statement on November 2. “We have been shipping coal to Itochu Corporation only under spot contracts for the past two years, and the signing of a…
In January-September the net losses of Mechel doubled YoY, to 11.71 billion rubles. Revenue dropped 2.2-fold, to 5.12 billion rubles, gross profit decreased 5.2-fold, to 2.19 billion rubles. Sales profits fell 9.5-fold, to 1.06 billion rubles. In H1 Mechel net profit decreased by 40% YoY, to 4.994 billion rubles. (Ukrainian metal)
The Zyuzins family decreased their consolidated share in Mechel from 55.04% to 50.1%, having given 4.93% to Veriotex Holdings Limited as a repayment of the debt. At present Igor Zyuzin owns 26.47% of the company, a part of which is owned through Calridge Ltd. “In October Calridge transferred 20.534 million shares as debt settlement”, the…
Mechel-Materials has started producing refractories of higher strength. These products are used for lining of heating units at metal and machine-building works. The Mechel-Materials bricks are made of high-aluminous raw materials, thus having the higher content of aluminum oxide, which provides for higher heat-resistance and lower thermal conduction. The first batches of new products have…
The situation favorable for investments in metal industry is possible only in 3-5 years. “Most companies now invest in vital projects. Investments in the sector now amount not to billion dollars, but to hundred millions”, Mechel CFO Sergey Rezontov said. According to him, in the past several years there have been almost no new investment…
Mechel-Service has shipped over 5 thousand tons of rebars for the housing construction in the city of Rostov-on-Don. The metal is used in the construction of a number of housing projects, in particular, Nikolayevsky, Yekaterininsky, and Arbat. All the rebars have been produced at Chelyabinsk Iron and Steel Works. “We have positive expectations of the…
