Mechel to close down ferroalloy division

Due to the salel of the Tikhvinskoye ferroalloy plant and the mining-and-processing complex “Voskhod” in late 2013, the Board of Directors of the company took a decision to reorganize the management structure of the Group having repealed the ferroalloy division. Within the framework of the reorganization the Bratsk ferroalloy plant is passed to under the control of a metallurgical division (UK Mechel-Steel LLC), the Yuzhno-Uralsk nickel complex, terminated in December 2012, will be controlled by OJSC “Mechel”, while “Mechel-Ferroalloys” LLC, managing company of the division, will be closed down.

In 2012, the Board of Directors of OJSC “Mechel” has approved the development strategy of the company, where the mining and full cycle metallurgy with focus on the output of HVA products (long, special steel, stainless mill products and metalware) are of priority directions.