mechel-sponsored adr (MTL) Key Developments
Mechel OAO, Board Meeting, May 17, 2013
May 17 13
Mechel OAO, Board Meeting, May 17, 2013. Agenda: To determine price of property or services to be sold or acquired under interested-party deals; and to approve interested-party deals, the company said in an official statement.
Mechel OAO Announces Operating Results for the First Quarter of 2013
May 13 13
Mechel OAO announced operating results for the first quarter of 2013. For the quarter, the company reported coal of 6,406,000 tones against 6,413,000 tones a year ago. Pig iron was 972,000 tones against 1,023,000 tones a year ago. Steel was 1,300,000 tones against 1,655,000 tones a year ago. Coking coal concentrate was 2,843,000 tones against 3,181,000 tones a year ago. PCI was 817,000 tones against 503,000 tones a year ago. Anthracites were 541,000 tones against 614,000 tones a year ago. Steam coal was 1,551,000 tones against 1,504,000 tones a year ago. Iron ore concentrate was 1,039,000 tones against 1,118,000 tones a year ago. Coke was 796,000 tones against 889,000 tones a year ago. Ferrosilicon was 22.8 tones against 18.0 tones a year ago. Chrome was 10.1 tones against 17.2 tones a year ago. Flat products were 185,000 tones against 214,000 tones a year ago. Electric power generation was 1,194,337,000 kWh against 1,213,029,000 kWh a year ago. Heat power generation was 2,723,119 Gcal against 3,202,981 Gcal a year ago.
Mechel Announces Holding Successful Hot Testing of Universal Rolling Mill at Chelyabinsk Metallurgical Plant
May 6 13
Mechel OAO announced that successful hot testing was held at the complex of Chelyabinsk Metallurgical Plant's universal rolling mill. During hot testing, the mill produced its first batch of structural shapes -- 25SH1-type bar. This is the first type of steel products that the universal rolling mill will be able to produce. The entire cycle of structural shape production was hot tested, from billet heating and hot rolling to correcting, cutting into measured sizes and packaging. Currently steel is being tested. Further on, the work schedule includes mastering production of other rolled profiles. Launch preparation work is being completed at rail processing equipment, and the plant is preparing for hot testing of rail production. Construction of Chelyabinsk Metallurgical Plant's universal rolling mill is a priority investment project for Mechel's steel division. When at full capacity, the mill will annually supply up to 400,000 tonnes of high resistance to wear and contact endurance rails for high-speed running, as well as rails for use in low temperatures. The mill's total production capacity will be over 1 million tonnes of products a year. This enterprise will encourage development of related industries in Russia, ensure supplies of high-quality steel products on competitive prices for Russian Railways OAO and construction companies, as well as decrease their dependence on imports. Also, the mill's launch will help resolve several social issues on regional level, such as creating over 1,000 new jobs.
Mechel OAO Recommends Not to Pay an Annual Dividend to Ordinary Shares; Recommends Annual Dividend for Preferred Share
Apr 30 13
Mechel OAO's board recommended not to pay an annual dividend with respect to ordinary shares.
The Board recommended an annual dividend of RUB 0.05 per one preferred share (approximately $0.0016 per one preferred share and $0.0008 per one preferred ADR). Dividends must be paid within 60 days of being declared at the annual general shareholders' meeting. The list of persons entitled to take part in the general shareholders' meeting and the list of persons entitled to receive dividends for the 2012 fiscal year will be made based on the data in the Shareholders' Register as of May 17, 2013.
Mechel OAO, Board Meeting, Apr 30, 2013
Apr 30 13
Mechel OAO, Board Meeting, Apr 30, 2013. Agenda: To recommend not to pay an annual dividend with respect to ordinary shares; and to recommend an annual dividend of RUB 0.05 per one preferred share.