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Mechel Steel Group OAO (MTL)

Stock (Manufacturing Industry, Steel & Iron Industry)


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[edit] Overview

Mechel is one of the leading Russian companies. Its business includes three segments: mining, steel, and power. Mechel unites producers of coal, iron ore concentrate, nickel, steel, rolled products, hardware, heat and electric power. Mechel products are marketed domestically and internationally.

[edit] Russian Anti Monopoly Committee Investigation

The company has recently come under fire from the Russian government due to Anti-Trust and Tax Evasion Concerns. Russian Prime Minister Putin has been very vocal about Mechel's foreign vs domestic sales. The deadline for the Russian Anti-Monopoly Committee's decision is August 26th, but most expect it earlier[1]

On August 13th 2008, the Federal Anti Monopoly Service gave its ruling. The Russian Service will insist on a 30 percent reduction in domestic coking coal prices, and a fine of 7 percent to 8 percent of revenue. Coking coal accounts for about 8% of Mechel's revenue and the fine will cost Mechel about 300 million dollars according to Goldman Sachs analyst Vasily Nikolaev.



 Mechel Steel Group OAO
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    [edit] References

    1. Mechel- Let's get greedy- Domenic Strazzulla’s Stock Blog
    2. CLF, 2007 10-K, Item 1 Pg 4
    3. 3.0 3.1 CLF, 2007 10-K, Item 6 Pg 38
    4. CLF, 2007 10-K, Item 8 Pg 88
    5. HSC, 2007 10-K, Item 8 Pg 88
    6. HSC, 2007 10-K, Item 6 Pg 18
    7. HSC, 2007 10-K, Item 8 Pg 90
    8. MTL, 2007 20-F, Item 4 Pg 36
    9. MTL, 2007 20-F, Item 3 Pg 2
    10. MTL, 2007 20-F, Item 4 Pg 69
    11. 11.0 11.1 TX, 2007 20-F, Item 3 Pg 7
    12. TX, 2007 20-F, Item 5 Pg 71
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