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Mechel OAO reports reorganizing the company

Thursday, 17 Jul 2014 09:00am EDT 

Mechel OAO:Reports liquidating the Group's ferroalloy division due to asset sales as part of the company's strategy.Says Due to the sale of Tikhvin Ferroalloy Plant and Voskhod Mining Plant in late 2013, the company's Board of Directors decided to reorganize the Group's administrative structure by eliminating the ferroalloy division.As part of the reorganization process, Bratsk Ferroalloy Plant will be managed by the steel division.Southern Urals Nickel Plant, halted since December 2012, will be managed directly by Mechel OAO.Mechel-Ferroalloys Management Company OOO, the division's management company, will be liquidated. 

Company Quote

0.0781 +9.52%
23 Oct 2014