OREANDA-NEWS. On May 29, 2008 Mechel OAO (NYSE: MTL), a leading Russian integrated mining and steel group, announced financial results for the full year ended December 31, 2007, reported the press-centre of Mechel.

Igor Zyuzin, Mechel’s Chief Executive Officer, commented on the full year results: “We achieved record financial results for the second consecutive year and benefited from our balanced business model, combining mining and steel assets.  Based on our strategy of developing our base of raw materials and increasing market share of high value added products, we ramped up production volumes and improved our financial performance, nearly doubling operating income for the year.  Mechel’s strong performance was also due to synergistic acquisitions that supported our production capability and created a foundation for future growth.”     

Full report see here: http://www.mechel.com/news/article.wbp?article-id=C320C3CF-EDBC-4278-A810-83199AF62AAF