Russia's leading producer of special steel and alloys said in its profit and losses account that its pre-tax profit had fallen 31.8% to $17.36 mln, and gross profit 50% to $4.13 mln. Earnings increased 2.8-fold to $41.33 mln.
Established in 2003, Mechel is also Russia's second rolled steel producer, and has a 39% share of the special steel produced in Russia. Mechel unites producers of coal, ore, nickel, steel, rolled steel and highly processed steel products for the domestic and foreign markets.
It has several metal plants in Russia, Romania and Lithuania.
In 2005, the company's output totaled 15.6 mln tons of coal, 5.9 mln tons of steel, and 4.6 mln of rolled metal.
Mechel is included into the Russian Industrial Leaders Index RUXX, a composite economic index of 20 Russian companies with financial instruments traded on bourses, including the New York Stock Exchange, the London Stock Exchange, Nasdaq and AMEX.
