The Arbitrary court of Rostov region on July 13 ruled well grounded the claims of the companies Atrix B. V. and Rostov Electrometallurgical Works to Mechel for recovery of damages. Atrix B. V. (the Netherlands), the founder of REMZ, claims 10.1 billion rubles from Mechel for the damages done to the works under the management…
Russia’s state-owned Vnesheconombank (VEB) plans to approve restructuring of a $167 million metals and mining group Mechel’s debt until the end of this month, CEO Sergei Gorkov said on July 10. “We believe that it (restructuring) will be probably approved by the end of the month,” he said. The company said earlier it had agreed…
Mechel shareholders at the annual meeting decided to spend 1.426 billion rubles to pay dividends for 2016 (10.28 rubles per premium share). Thus the company will spend 20% of its 2016 profits on dividends. In 2016 Mechel for the first time received profit of 7.1 billion rubles. Last time Mechel paid dividends in 2011: 31.28…
This year Mechel-Service has already supplied 6.5 thousand tons of rebars for the construction of housing in Chelyabinsk. The company supplies rebars to almost all major construction sites in the city. One of the latest was the batch of metal for the construction of Gagarin Residence in the downtown. All the rebars are manufactured by…
The Chelyabinsk regional environment supervision service has cancelled the license for polluting the air, given to Mechel-Coke in March 2016. The license has been cancelled because of the company regularly exceeding the pollution quota. Mechel-Coke provides some 46% of industrial pollution in the city of Chelyabinsk, or 100 thousand tons. In the past 12 months…
The board of directors of the Russian metals and mining group Mechel has recommended paying no dividends on common shares and 10.28 rubles per preferred share, or a total of 1.426 billion rubles, in dividends for 2016, the company said in a statement on June 8. The record date for the dividends is July 11.…
In January-March Mechel increased steel output by 8% YoY, to 1.121 million tons. According to the company statement, pig iron output went up by 4%, to 1.046 million tons, flat rolled metal manufacture increased by 20%, to 153 thousand tons, bars – dropped by 4%, to 705 thousand tons. The production of beams, rails and…
The net profit of Russian metals and mining group Mechel, attributable to shareholders, jumped to 13.902 billion rubles in January-March from 312 million rubles in the same period of 2016, as calculated under International Financial Reporting Standards (IFRS), the company said in a statement on May 31. Consolidated revenue increased by 24%, to 77.414 billion…