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Mechel Announces Nine-Month Operational Results
10/20/2010 - Mechel OAO announced operational results for the first nine months of 2010, including the production of 4.496 million tonnes of steel, a 13% increase vs. the comparable year-ago period.
Mechel OAO announced operational results, including the production of 4.496 million tonnes of steel, for the first nine months of 2010.
Compared to the same period of the previous year, raw steel production represents a 13% increase. Comparing the first nine months’ production to the comparable year-ago period, the company’s steel division increased its output of flat rolled steel to 317,000 tonnes (+34%); long products to 2.608 million tonnes (+5%); and billets to 1.635 million tonnes (+43%).
“We started out this year with rapid production growth, and so far have managed to maintain this pace,” said Mechel CEO Yevgeny Mikhel, commenting on the company’s nine-month operational results.
“Beginning from the second quarter of 2010 our coal production has steadily exceeded pre-crisis levels,” added Mikhel. “Overall, our coking coal concentrate production increased by 66% compared to the same period of 2009. Output of coal for steel production has grown by 262%.
Mechel reported the production of 8.296 million tonnes of coking coal concentrate in the first nine months of 2010, a 66% increase vs. the comparable year-ago period. Over the same period, the company also produced 6.403 million tonnes of steam coal (a 9% decrease vs., 2009) and 3.145 million tonnes of iron ore concentrate (a 1% decrease vs. 2009). The company noted that its ferroalloys production was growing gradually.
“We have done a substantial amount of work to renovate and modernize our production facilities and feel optimistic about achieving production growth targets in the core sectors of our business,” concluded Mikhel.
Mechel, one Russia’s leading companies, conducts business in 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, with its products marketed both domestically and internationally.
