Official Statement of Mechel OAO (PR Newswire)

MOSCOW, July 25 /PRNewswire/ -- Mechel OAO (NYSE: MTL - News ) publishes its official statement. Mechel shares the concerns of the Government of the Russian Federation, steel plants and metallurgical industry in regard to the growth in prices for steel products and raw materials in the recent time. As was previously announced, Mechel has started the process of forming long-term commercial relationships with key partners and has signed a number of agreements for delivery of its products to the end of this year. Mechel is ready for cooperation with federal authorities of the Russian Federation and, if required, will provide complete information on any arising issues. Mechel is one of the leading Russian companies. Its business includes three segments: mining, steel, and power. Mechel unites producers of coal, iron ore... [read full story]