Russian President Vladimir Putin Congratulated Yakutugol Holding Company OAO'S Employees on Their Professional Holiday in Live Video-Link
MOSCOW, Aug. 21, 2012 (GLOBE NEWSWIRE) -- Mechel OAO (MTL), one of the leading Russian mining and metals companies, reports that Russian President Vladimir Putin spoke through a live video-link with Elga Coal Complex's employees.
As part of a ceremony celebrating Miner's Day, Vladimir Putin congratulated coal industry workers with their professional holiday.
The ceremony included a video-link that involved employees of Yakutugol Holding Company OAO, part of Mechel Mining OAO, participating in Mechel's most important project development of the Elga coal deposit, one of the world's largest coking coal fields.
Vladimir Putin said that Elga Open Pit's team had managed to make great progress in a short period of time, and that he remembered well how the project evolved right up from the licensing process.
"This is a very important and a very promising project for the entire industry, but what is essential and most pleasant is that it develops our Far East territories and allows us to work efficiently not only to benefit our own economy and our country, but also the Asia Pacific markets," the president noted.
Mechel is one of the leading Russian companies. Its business includes four segments: mining, steel, ferroalloy and power. Mechel unites producers of coal, iron ore concentrate, nickel, ferrochrome, ferrosilicon, steel, rolled products, hardware, heat and electric power. Mechel products are marketed domestically and internationally.
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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.
CONTACT: Mechel OAO Maria Kolmogorova Phone: + 7 495 221-88-88 email@example.com
Source: Mechel OAO 2012 GlobeNewswire, Inc.