-(220-x-200-px)-(130-x-130-px)-(220-x-200-px).jpg?lang=en-US&ext=.jpg)
Veolia.gif?width=200&height=200&mediaprotectionhash=4deca34a0d5a00013b5a0ccdc2dcf98fd2c17aabb57eb7bbb27200552f29c247&ext=.gif)
Mechel Establishes East-European Steel Division
10/28/2008 - Mechel OAO establishes its East-European Steel Division to streamline operations of its four Romanian subsidiaries.
Mechel OAO announced the establishment of its East-European Steel Division on the basis of its Romanian steel subsidiary, Mechel Targoviste.
Mechel is forming the new Division to coordinate the operations of its Romanian subsidiaries: Mechel Targoviste, Mechel Campia Turzii, the Ductil Steel Buzau steel rolling mill, and the Otelu Rosu steel melting plant. Mechel acquired its most recent member of this group, Ductil Steel, in the spring of 2008.
The new Division will help Mechel to enhance the performance and efficiencies of these subsidiaries by coordinating operations including investments, modernization, streamlining, and production cost reduction efforts. The Division will implement efficient logistics planning, raw material acquisition and product marketing across the subsidiary, and will also engage in human resources policy and coordinate contacts with banks and financial institutions.
According to Mechel, the new Division’s main priority is the modernization of the Otelu Rosu, Ductil Steel Buzau, and Campia Turzii plants.
“Establishing the new Division will enable Mechel to significantly increase the efficiency of managing Mechel's Romanian subsidiaries,” noted Mechel Management OOO Chief Executive Officer Vladimir Polin. “We are pleased that this entity will be headed by an experienced specialist, Vyacheslav B. Shmyga.
“Working as the Director of Mechel Targoviste, Mr. Shmyga successfully implemented technical re-equipment and production cost optimization programs that have resulted in the subsidiary earning profits for the first time in recent years,” added Polin. “Mr. Shmyga has been assigned with the task to achieve similar results at Mechel's other Romanian subsidiaries.”
Mechel, one of the leading Russian mining and metals companies, unites producers of coal, iron ore, nickel, steel, rolled products, and hardware. Its business includes three segments—mining, steel, and power—and its products are marketed domestically and internationally.
