12 Dec 2012 18:42

Mechel to restructure bulk of business in H1 2012

MOSCOW. Dec 12 (Interfax) - Mechel plans to restructure the bulk of its business in the first half of 2013, the coal and metal group's CEO, Yevgeny Mikhel, said at a conference call.

Mikhel said Mechel would abandon the development of its ferroalloy and energy divisions as standalone businesses and would considerably scale down the development of the metallurgical division.

"By focusing on the metallurgical division we will be able to free up considerable funds for its development," he said.