MECHEL ANNOUNCES MANAGEMENT CHANGES AT IZHSTAL OAO
Moscow, Russia — December 19, 2012 – Mechel OAO (NYSE: MTL), one of the leading
Russian mining and metals companies, announces the appointment of a new Managing
Director of Izhstal OAO (Izhstal), part of Mechel Group.
Anatoly Shchetinin, 55, who was appointed the new Managing Director of Izhstal
OAO, replaces
Konstantin Kretov, who headed the plant since February 2011.
“Anatoly Shchetinin is always appointed to front-line, important work in
Mechel’s steel division.
He is a strong and experienced manager, well-versed in steelmaking technology.
In the past few
years, Izhstal OAO has implemented a large-scale project to modernize its
production facilities.
Today the plant needs to reach project capacity for the high-tech steelmaking
and rolling
facilities that have been installed as part of that project, which will enable
Izhstal to significantly
increase its competitive edge in the market for specialty steels and stainless
rolls. We are sure
that Anatoly Shchetinin’s experience and leadership skills will help the
enterprise tackle this task
successfully,” Mechel-Steel Management OOO’s Chief Executive Officer Vladimir
Tytsky
noted.
Prior to his appointment, since November 2011 Mr. Shchetinin was managing
director at
Mechel’s Eastern European Steel Division’s Otelu Rosu plant. Before that, since
July 2008 until
October 2011 he worked as project chief at Chelyabinsk Metallurgical Plant OAO.
In 2006-
2008, he held several management posts at Evraz Holding OOO. In 2005-2006, he
was chief
executive officer at Chelyabinsk Steel Profiled Sheet Plant OAO. In 2001-2005,
Mr. Shchetinin
was chief executive officer at Southern Urals Nickel Plant OAO. In 1984-2001, he
worked on
various posts at Chelyabinsk Metallurgical Plant OAO.
Mr. Shchetinin graduated from Chelyabinsk Polytechnic Institute with a specialty
in smelting of
ferrous and non-ferrous metals and holds a doctorate in technical sciences. He
has been awarded
the medal of Russia’s Order for Merit to the Motherland state award II class and
the Order for
Honor and Valor.
***
Mechel OAO
Pavel Taran
Tel: + 7 495 221-88-88
pavel.taran@mechel.com
***
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.
***
Some of the information in this press release may contain projections or other
forward-looking statements regarding
future events or the future financial performance of Mechel, as defined in the
safe harbor provisions of the U.S.
Private Securities Litigation Reform Act of 1995. We wish to caution you that
these statements are only predictions
and that actual events or results may differ materially. We do not intend to
update these statements. We refer you to
the documents Mechel files from time to time with the U.S. Securities and
Exchange Commission, including our
Form 20-F. These documents contain and identify important factors, including
those contained in the section
captioned “Risk Factors” and “Cautionary Note Regarding Forward-Looking
Statements” in our Form 20-F, that
could cause the actual results to differ materially from those contained in our
projections or forward-looking
statements, including, among others, the achievement of anticipated levels of
profitability, growth, cost and synergy
of our recent acquisitions, the impact of competitive pricing, the ability to
obtain necessary regulatory approvals and
licenses, the impact of developments in the Russian economic, political and
legal environment, volatility in stock
markets or in the price of our shares or ADRs, financial risk management and the
impact of general business and
global economic conditions.