Interview with the managing director of ChMK, Rashid Nugumanov

The past few weeks there have been lots of reports in the media concerning the situation in Mechel . How does the Chelyabinsk metallurgical plant which is in the structure of Mechel feel about this unfavorable background? The managing director of ChMK OJSC, Rashid Nugumanov, told “Ural-press-inform” ahis views.

Q: The financial problems of Mechel have given grounds for numerous rumours, including the possible bankruptcy of ChMK. What is going on today at the plant?

A: Yes, recently a negative background is being formed around Mechel which inevitably concerns us. I will explain. The Mechel brand comes from Chelyabinsk, the Chelyabinsk metallurgical plant used to have this name. So the information about the company’s current financial problems is often associated with our enterprise. In general these difficulties don’t reflect on the dynamics of our development. ChMK OJSC is working successively and dynamically. On the result of the first 9 months 2014 the plant follows its plan. The production program is fulfilled by the entire metallurgical cycle: cast iron, steel, rolled products, dispatch. I think we will go on at the same rate. Speaking about the information about the company’s current problems, it is quite transparent. The situation is connected with the market environment and the fact that this environment has coincided with the state of large payments of debts. At the present time Mechel’s management is settling the debt restructuring problem.