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News Breaks | | | | September 25, 2012 | | 09:27 EDT |  | MTL | Mechel reports decisions made by Board of Directors
Mechel OAO's Board of Directors held a meeting on Sept. 21, with the agenda including, among other issues, the measures on restructuring the Group's assets in order to improve the company's financial performance and increase its shareholder value, in view of the revised strategy approved in May this year. Based on the results of an analysis of Mechel OAO's assets presented by the management, the Board of Directors unanimously approved divestment of the following assets as not consistent with the new development strategy: enterprises that make up Mechel's Eastern European Steel Division S.R.L., Donetsk Electrometallurgical Plant PJSC, Invicta Merchant Bar Ltd., UAB "Mechel Nemunas", Mechel Service Global B.V. except Mechel Service OOO, Voskhod-Chrome LLP, Voskhod-Oriel LLP, Tikhvin Ferroalloy Plant OOO, Southern Urals Nickel Plant OAO, Kuzbass Power Sales Company OAO, and Toplofikatsia Rousse EAD. In order to speed up implementation of the mining division's priority project — development of the Elga coal deposit — the Board of Directors also recommended evaluating the possibility of a potential divestment of a minority stake in Mechel Mining OAO to a strategic partner -- but such stake not to exceed 25%. | |
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| May 15, 2013 | | 09:18 EDT |  | MTL | Mechel volatility elevated as shares near four-year low
Mechel overall option implied volatility of 61 is above its 26-week average of 56 according to Track Data, suggesting large near term price movement. | | | May 13, 2013 | | 10:10 EDT | | MTL | Mechel reports Q1 coal production 6.41M tons, steel production 1.3M tons
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