Petropavlovsk, Oil and Gas

Metallurgy-2014: under “star” of Mechel

The outgoing year in metallurgy will be remembered by everyone, first of all, due to events with Mechel. In 2014, the most indebted company in the industry lost most of its capitalization. It was threatened with bankruptcy, default, was asked to sell assets, restructure its debt and convert it into shares. It was threatened with the dismissing of its general director and principal owner of the company Igor Zyuzin from its management - but there are still no specifics on the future of Mechel.
The first problems of Mechel were found at the end of February, when its shares "went" down for unknown reasons, although some analysts suspected that this was due to its debts. The manipulation with the shares was attributed to speculators, and the Central Bank undertook to investigate. But no one then imagined that everything would go so far.
But the company also had positive aspects in the current year, in particular, the sale of assets, and the fall of the ruble allowed it to significantly reduce its debt.

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