Moscow, Russia – October 12, 2012 – Mechel OAO (NYSE: MTL), one of the leading Russian mining and metals companies, reports signing an agreement with the Russian Federation’s Economic Development Ministry for cooperation aimed at support and development of the Group’s external economic operations.
Within this agreement’s framework, the Economic Development Ministry will lend its support to Mechel OAO in preparing and holding events promoting the company’s interests in the areas of coal industry, ferrous metallurgy and energy. It will also offer the company’s representatives the chance to participate in events organized by the ministry and in the work of inter-governmental commissions on trade, economic, scientific and technical ties between the Russian Federation and foreign states. In addition, the Economic Development Ministry will aid the company in including its issues on the agendas of meetings between the minister and his deputies and their foreign counterparts.
The agreement was signed by the Russian Federation’s Economic Development Minister Andrei Belousov and Mechel OAO’s Chief Executive Officer Yevgeny Mikhel. The agreement is valid for three years and will be extended automatically.
“This cooperation agreement with Russia’s Economic Development Ministry is an example of our state’s timely and thoughtful approach in helping Russian companies that have external economic operations in implementing their projects. With such an approach, all the steps undertaken both by the company and the ministry and trade representatives are aimed at reaching practical results that will benefit Russian business and the state as a whole,” Mechel OAO’s Chief Executive Officer Yevgeny Mikhel 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.