Mechel Reports an Accident at Chelyabinsk Metallurgical Plant

CHELYABINSK, Russia, Nov. 23  /PRNewswire-FirstCall/ -- Mechel OAO (NYSE: MTL) reports that its subsidiary, Chelyabinsk Metallurgical Plant, has had an accident. No deaths or injuries at the plant resulted. Production at the plant, with the exception of coke production, has been halted.

Late last night a local water pump station failed, interrupting the supply of water to Chelyabinsk Metallurgical Plant.

Production at Chelyabinsk Metallurgical Plant was stopped. Technical services of the plant have taken all possible measures to limit any negative consequences for the plant's equipment.

Production at the plant will resume the production cycle by tomorrow, and will be fully restarted within the next two days.

"We are thankful that there were no injuries associated with this incident. All resources at our disposal are currently being used to restore the production to full capacity and to minimize the effects of this incident," said Mechel's CEO Vladimir Iorich.

Mechel is one of the leading Russian mining and metals companies. Mechel unites producers of coal, iron ore, nickel, steel, rolled products, and hardware. 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 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. 

DATASOURCE: Mechel OAO



CONTACT:  Mechel OAO - Irina Ostryakova, Director of Communications

Phone: [phone], Fax: [phone],  

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