Mechel Becomes Potential Rail Supplier for Germany's Railways
11 February 2015 - 11:00PM
Mechel OAO (NYSE:MTL)
, one of the leading
Russian mining and metals companies, reports that Chelyabinsk
Metallurgical Plant won the status of a potential rail supplier to
Germany's railway operator Deutsche Bahn AG, following a production
audit.
As part of the work visit, Deutsche Bahn AG experts toured the
oxygen converter workshop, universal rolling mill and the rolling
workshop #3, as well as the steel products testing center and the
central analytics lab. During the visit, German experts examined
all stages of Chelyabinsk Metallurgical Plant's rail production —
from steelmaking to shipping rails, and appraised the quality
management control system of rail products at all production
stages.
As a result, the sides signed a protocol affirming Chelyabinsk
Metallurgical Plant's status as a potential supplier of rails for
Deutsche Bahn AG. The sides agreed to conduct measures required for
Chelyabinsk Metallurgical Plant's rails to pass certification as
compliant with TSI standard for rail products in the European
Union. Meanwhile the plant will begin testing to enable rail
supplies to the railway network of DB Netz AG which is operating
Germany's railway infrastructure. Tests will be conducted with
high-speed conditions among others.
"The universal rolling mill is capable of manufacturing products
at the finest global level and preliminary tests confirmed that.
Today our aim is to pass certification not only in Russia, but also
in Europe. This will enable us to replace imports domestically and
become a successful competitor globally," Mechel-Steel Management
Company OOO's Chief Executive Officer Vladimir Tytsky
commented.
Mechel is an international mining and steel company which
employs over 70,000 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.
CONTACT: Mechel OAO
Ekaterina Videman
Tel: + 7 495 221-88-88
ekaterina.videman@mechel.com
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