Press Releases

Change in Management at Beloretsk Metallurgical Plant

24May2019
Moscow, Russia May 24, 2019 Mechel PAO (MOEX: MTLR; NYSE: MTL), a leading Russian mining and metals company, reports management changes at Beloretsk Metallurgical Plant (BMK AO, part of Mechel Group).

Sergey Fedorov has been appointed Chief Executive Officer of Beloretsk Metallurgical Plant AO, replacing Viktor Kamelin who has headed the plant for nearly a decade.

“I am sure that Sergey Fedorov will be able to successfully continue his predecessor’s work and tackle the tasks facing the plant today. He has a lot of practical experience in the steelmaking business and proved himself as a high-class professional and efficient executive with a long track record,” Mechel PAO’s Chief Executive Officer Oleg Korzhov noted.

“We are deeply grateful to Viktor Kamelin for his major contribution to our Group’s key hardware producer’s work and development. With him at the helm, Beloretsk Metallurgical Plant managed to preserve and enrich its scientific and technological potential, expand its product range, increase output and consolidate its position as a leader in Russia’s hardware industry. The plant has implemented several important investment projects, launched a large-scale upgrade of its steel wire and rope facility.”

Prior to his appointment, Sergey Fedorov headed Mechel’s Lithuanian-based Mechel Nemunas plant since 2013. In 2010-2013, he worked as chief executive officer of Mechel Campia Turzii in Romania. In 2009-2010 he was managing director at Mechel’s Vyartsilya Metal Products Plant. Before that, in 1984-2009 he worked his way up at Vyartsilya Metal Products Plant, from core operations foreman to production and commercial operations director.

Sergey Fedorov graduated Magnitogorsk Institute of Mining and Metallurgy with a specialty in pressure metal treatment.

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Mechel PAO
Ekaterina Videman
Tel: + 7 495 221 88 88
ekaterina.videman@mechel.com

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Mechel is an international mining and steel company. 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.

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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.

24.05.2019

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