EquityStory.RS, LLC-News: PJSC Mechel / Key word(s): Miscellaneous
PJSC Mechel: Mechel Upgrades Key Facility at Bratsk Ferroalloy Plant
2020-04-15 / 12:30 MSK
The issuer is solely responsible for the content of this announcement.
MECHEL UPGRADES KEY FACILITY AT BRATSK FERROALLOY PLANT
Moscow, Russia - 15 April 2020 - Mechel PAO (MOEX: MTLR, NYSE: MTL), one of
the leading Russian mining and metals companies, reports launching an
upgraded furnace at Bratsk Ferroalloy Plant. The upgrade boosted the
ferroalloy ore-smelting furnace's capacity from 25 MVA to 33 MVA. This will
enable the plant to increase the furnace's output by 40%. Investment totaled
approximately 1.1 billion rubles.
Bratsk Ferroalloy Plant's four furnaces are its key production facilities.
They produce ferrosilicon which is used by steelmakers for steel smelting
and is marketed domestically, internationally and to Mechel Group's own
subsidiaries.
As part of the ore-smelting furnace #3's upgrade, its old equipment was
entirely dismantled, a new ferroalloy-smelting bath with refractory
brickwork was installed, the dosage batching system was modernized, and an
automatic technical process control system was installed - the furnace's
work is now fully computer-controlled with all its measurements shown on
monitors. The furnace will produce ferrosilicon of FS65 and FS75 grades in
turns.
The upgrade also involved gas cleaning systems, with steps taken to collect
taphole gases into the existing gas cleaner equipped with bag filters.
Thanks to these measures, the furnace's increased production capacity will
not bring up its impact on the environment. As part of the upgrade, the
reverse in-plant recycling system was renovated, with 1,200 m of the furnace
cooling circuit replaced. The plant also reconstructed its electric
substation and replaced two transformers.
"The ore-smelting furnace #3's technical upgrade became the second stage of
Mechel Group's large-scale project of modernizing its ferroalloy production
facilities, which began with upgrading the furnace #4. The launch of yet
another upgraded facility will significantly improve the plant's efficiency
while bringing down its environment impact and production costs due to
decreased specific power consumption," Mechel PAO's Chief Executive Officer
Oleg Korzhov commented.
***
Mechel PAO
Ekaterina Videman
Tel: + 7 495 221 88 88
ekaterina.videman@mechel.com
***
Mechel is an international mining and steel company. Its products are
marketed in Europe, Asia, North and South America, Africa. Mechel unites
producers of coal, iron ore concentrate, steel, rolled products,
ferroalloys, heat and electric power. All of its enterprises work in a
single production chain, from raw materials to high value-added products.
***
Bratsk Ferroalloy Plant is a modern, highly efficient facility producing
high-grade ferrosilicon with 65% and 75% silicon content. The plant's
produce has an international quality certificate and even exceeds global
market requirements that allow for up to 1.5% impurity in ferrosilicon. The
plant supplies ferrosilicon to Mechel Group's other enterprises and markets
it 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.
2020-04-15 MSK Dissemination of a Corporate News, transmitted by
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Language: English
Company: PJSC Mechel
1 Krasnoarmeyskaya Street, Moscow, Russia
127006 Moscow
Russia
Phone: +7 (495) 221-88-88
Fax: +7 (495) 221-88-00
E-mail: press@mechel.com
Internet: www.mechel.ru/
ISIN: US5838406081, RU000A0DKXV5
WKN: A2AC1G
Listed: Foreign Exchange(s) Moscow, NYSE
EQS News ID: 1021791
End of News EquityStory.RS, LLC News Service
1021791 2020-04-15 MSK
(END) Dow Jones Newswires
April 15, 2020 05:30 ET (09:30 GMT)
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