MOSCOW, May 4, 2009 (GLOBE NEWSWIRE) -- Mechel OAO (NYSE:MTL), one of the leading Russian mining and metals companies, announces the appointment of Alexey Ivanushkin as Chief Executive Officer of the Oriel Resources Company Ltd. (Great Britain).
Alexey Ivanushkin, 46, has been appointed Chief Executive Officer of the Oriel Resources Company Ltd. (Great Britain), which united all the ferroalloy assets of Mechel OAO: Tikhvin Smelting Plant (St. Petersburg region), Southern Urals Nickel Plant (Orenburg region), Bratsk Ferroalloy Plant (Irkutsk region), mining and processing plant Voskhod Chrome, Voskhod Chrome Deposit and Shevchenko Nickel Deposit (Kazakhstan).
In this new position, Mr. Ivanushkin will be in charge of the strategic management of Mechel's Ferroalloy Division.
The position of Chief Operating Officer at Mechel OAO has been eliminated.
Since October 2008, Mr. Ivanushkin has been Director of the Oriel Resources Company Ltd. He held the position of Mechel's Chief Operating Officer from January 2004 until February 2009 and was Chief Executive Officer of Mechel Steel Group OAO from March 2003 to January 2004. He has been Chairman of the Board of Directors at Mechel's subsidiary, Chelyabinsk Metallurgical Plant OAO, since 2002. From 1999 to 2002, Mr. Ivanushkin served as General Director of the Chelyabinsk Metallurgical Plant, and from 1993 to 1999 he was the Director of the ferrous metals and ferroalloy department at the Moscow office of Glencore International AG.
Mr. Ivanushkin graduated from Moscow State University of Foreign Relations (MGIMO) with a degree in economics and international affairs.
Mechel is one of the leading Russian companies. Its business includes four segments: mining, steel, ferroalloy and power. Mechel unites producers of coal, iron ore concentrate, steel, rolled products, ferroalloys, hardware, heat and electric power. 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.