updated 12/27/2010 8:15:45 AM ET 2010-12-27T13:15:45

MOSCOW, Dec. 27, 2010 (GLOBE NEWSWIRE) -- Mechel OAO (NYSE:MTL), one of the leading Russian mining and metals companies, announces the Board of Directors' decision to open its official representative offices in the Southern Federal District and the Amur Region.

The decision to open Mechel OAO's representative offices in the Southern Federal District's city of Rostov-on-Don and the Amur Region's city of Blagoveshchensk was made at the meeting of the Board of Directors on December 22, 2010.

Mr. Sergei M. Nazarov was appointed Head of the representative office in the Southern Federal District. The legal address of the representative office is: 344010, Russian Federation, Rostov Region, Rostov-on-Don, Semashko alley, 114.

The new representative office will allow for more efficient management of the Mechel group's assets in the Southern Federal District, as well as prompt reaction to the region's needs in its intensive development in view of 2014 Winter Olympics at Sochi and 2018 World Football Championship, which will be held partly in the Southern District (the cities of Krasnodar, Rostov-on-Don and Sochi).

Mr. Oleg V. Burkov was appointed Head of the representative office in the Amur Region. The legal address of the representative office is: 675000, Russian Federation, Blagoveshchensk, Amur Region, Krasnoarmeyskaya St, 173, office 102.

The representative office will provide more efficient assistance to the Mechel group's enterprises in constructing and exploiting the Elga Coal Complex, as well as actual data on several major federal projects, such as construction of the Vostochny cosmodrome, modernization of the Trans-Siberian Railway and the Baykal-Amur Railroad's northern latitudinal passage.

The functions of both representative offices will include establishing and maintenance of contacts with government authorities and business community of the Southern Federal District and the Amur Region respectively, representation of Mechel group's interests, strengthening cooperation with Mechel's partners and establishing new relations to ensure expansion of the group's activities.

Mechel is one of the leading Russian companies operating in four segments: mining, steel, ferroalloys and power. Mechel's operations produce coal, iron ore concentrate, crude steel, rolled steel, ferroalloys, value-added downstream metal products as well as electric and heat power. Mechel markets its products both domestically and internationally.

The Mechel OAO logo is available at http://www.globenewswire.com/newsroom/prs/?pkgid=8181

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.

CONTACT:  Mechel OAO
          Ekaterina Videman
          + 7 495 221-88-88
          ekaterina.videman@mechel.com

© Copyright 2012, GlobeNewswire, Inc. All Rights Reserved

Discuss:

Discussion comments

,

Most active discussions

  1. votes comments
  2. votes comments
  3. votes comments
  4. votes comments

Data: Latest rates in the US

Home equity rates View rates in your area
Home equity type Today +/- Chart
$30K HELOC FICO 5.04%
$30K home equity loan FICO 5.67%
$75K home equity loan FICO 4.96%
Credit card rates View more rates
Card type Today +/- Last Week
Low Interest Cards 13.42%
13.42%
Cash Back Cards 17.94%
17.94%
Rewards Cards 17.15%
17.15%
Source: Bankrate.com