Mechel Announces Change in Its Full Corporate Name
29.06.2005 / 08:54 / Rubriek: Informatief / Organisatie: Mechel
Mechel Announces Change in Its Full Corporate Name
MOSCOW, June 29/PRNewswire/ --
Mechel OAO (NYSE: MTL) announces the change of its full corporate name to Mechel Open Joint Stock Company.
'With this step we are pleased to more appropriately recognize the vertical integration, and historical roots, of Mechel. The mining and steel segments are both essential elements of our structure. Therefore, it is logical to remove from the corporate name words emphasizing significance of only one of the segments. Mining has always been a core business for Mechel and the recent acquisitions of significant new license areas for coal development, the strong results posted by the mining segment in 2004, only serve to emphasize its importance to us,' Mechel's CEO, Vladimir Iorich, said.
Mechel OAO
Irina Ostryakova
Phone: +7-095-258-18-28
e-mail: irina.ostryakova@mechel.com
Mechel is one of the leading Russian metals and mining companies. Mechel unites producers of steel, rolled products, hardware, coal, iron ore concentrate, and nickel. Mechel products are marketed domestically and internationally.
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 F-1. 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 F-1, 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.
Source: Mechel OAO
Irina Ostryakova of Mechel OAO, +7-095-258-18-28, or irina.ostryakova@mechel.com