Mechel reports its operational results for the first quarter of 2005Moscow, Russia – May 18, 2005 – Mechel OAO (NYSE: MTL) increased output of its core products in 1Q2005 as compared to the same period last year. Significant growth was achieved in the production of coal and rolled products, with output increasing by 12.8% and 19.7%, respectively.
|Product||1Q2005, thousand tons||1Q2005 as compared to 1Q2004, %|
|Coking Coal||2,337||+ 12.3|
|Steam Coal||1,747||+ 13.4|
|Iron Ore Concentrate||1,041||+ 14.3|
|Pig Iron||994||+ 17.4|
|Rolled Products*||1,331||+ 19.7|
* All production information is presented in this press release for the full calendar periods of 1Q 2004 and 1Q2005 as if all Mechel's subsidiaries were consolidated for such periods. Mechel's consolidated output of steel, rolled products, and hardware from the date of actual acquisition of the controlling stake in Izhstal, i.e. from May 2004, is as follows: increases by 23.1% in steel, 26% in rolled products, and 18.7% in hardware as compared to 1Q2004.
Director of Communications
Mechel is one of the leading Russian metals and mining companies. The Company unites producers of steel, rolled products, hardware, coal, iron ore concentrate, and nickel. Mechel products are marketed domestically and internationally.
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 Steel Group, 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 Steel Group files from time to time with the U.S. Securities and Exchange Commission, including our Form F-1. 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 F-1, 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.