Mechel Starts 100-Meter Rail Supplies to Russian Railways
February 11 2016 - 7:02AM
Mechel OAO
(MICEX:MTLR) (NYSE:MTL)
, one of the leading Russian
mining and metals companies, reports that supplies of 100-meter R65
DT-350 type rails to Russian Railways OAO have begun. Mechel OAO’s
Chelyabinsk Metallurgical Plant has already shipped off the first
12,000-tonne batch to Russian Railways.
Chelyabinsk Metallurgical Plant supplies rails
as part of a supplementary agreement to the 2008 strategic contract
between the two companies. In 2016 supplies are due to amount to
150,000 tonnes. Russian Railways will use those rails for
construction and reconstruction of North Caucasian and Kuibyshev
railroads.
The rails are fully in compliance with Russian
Railways’ requirements and were produced according to the
certificate granted to Chelyabinsk Metallurgical Plant by Federal
Railway Transport Certification Register in June 2015.
“Today prompt fulfillment of Russian Railways’
order is an absolute priority for Chelyabinsk Metallurgical Plant,”
Mechel OAO’s Chief Executive Officer Oleg Korzhov noted. “The
technology mastered by the plant enables it to produce rails whose
qualities are on par with the best international peers and meet all
needs of our country’s transport infrastructure development.”
Chelyabinsk Metallurgical Plant’s rails were
produced using a unique heat treatment technology which enables the
plant to produce rolls with superior wear resistance, durability
and endurance limit. The plant produces rails at its universal
rolling mill with a 1.1-million-tonne capacity, using the most
advanced rolling, correction, processing and quality control
technologies.
Mechel is an international mining and steel
company which employs 67,000 people. Its products are marketed in
Europe, Asia, North and South America, Africa. Mechel unites
producers of coal, iron ore concentrate, steel, rolled products,
ferroalloys, heat and electric power. All of its enterprises work
in a single production chain, from raw materials to high
value-added products.
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.
Mechel OAO
Ekaterina Videman
Tel: + 7 495 221 88 88
ekaterina.videman@mechel.com
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