Mechel | 23 April 2008 г. | 14:18

Mechel Reports Its Operational Results for the First Quarter of 2008

Mechel Reports Its Operational Results for the First Quarter of 2008
Mechel announced today its operational results for the first quarter ended March 31, 2008.


Product
First quarter of 2008, thousand tn
First quarter of 2008 vs. first quarter of 2007, %
Coal
7,279
+ 60
  Coking Coal
4,313
+94
  Steam Coal
2,966
+ 27
Coal concentrate*
4,122
+37
  Coking
3,330
+43
  Steam
792
+19
Iron ore concentrate
1,163
+6
Nickel
4.4
+7
Ferrosilicon
23
n/a
Hardware
183
+16
Forgings
19
-12
Stampings
24
-7
Rolled Products
1,366
+7
  Flat Products
115
+3
  Long Products
817
+8
  Semi-Finished Products
434
+7
Steel
1,563
+5
Pig iron
970
+4
Coke
917
-4
Electric power generation (ths. kWh)
1,276,133
+157

* The coal concentrate has been produced from part of the raw coal output.

 

Mechel Management Chief Executive Officer Vladimir Polin commented on the operational results for the first quarter of 2008, “We are very pleased with our operational results for the first quarter of 2008 as we achieved strong production growth across all of our business segments: mining, steel and power. Strong coal growth was driven primarily by the acquisition of Yakutugol HC OAO in October 2007, and the modernization of Southern Kuzbass OAO’s mining equipment. We continued to increase our output of nickel as the main component in stainless steel rolled product manufacturing.”

Mr. Polin continued, “Results in our steel segment, were positively driven by increased volumes of steel produced with the continuous casting method, and over time, we will convert 90% of our total steel production to use continuous casting. Furthermore, we increased our output of its finished long and flat rolled products and hardware. Our power segment substantially increased its electric power generation that was primarily driven by the acquisition of the Southern Kuzbass Power Plant in March 2007. Energy growth was also strengthened by the recent acquisition of 49% of the Bulgarian-based Rousse Thermal Power Plant in December 2007, which is operated by our professional management, and the subsequent successful integration of the Power Plant's power facilities into the company's business.”
Source: Metal Supply and Sales
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