(MENAFNEditorial) MOSCOW, Dec. 15, 2017 (GLOBE NEWSWIRE) -- Mechel PAO (MOEX:MTLR) (NYSE:), one of the leading Russian mining and metals companies, reports signing a protocol of intent on development of ties between Mechel-Steel Management Company OOO and Kyrgyzstan's National Company Kyrgyz Temir Zholu.
The protocol was signed in Bishkek on the sidelines of the Sixth Russian-Kyrgyz Inter-Region Conference for a term of five years, in the presence of the co-chairmen of the Intergovernment Russian-Kyrgyz Commission on Trade, Economic, Science, Technical and Humanitarian Cooperation, Russia's Deputy Prime Minister Arkady Dvorkovich and Kyrgyzstan's Deputy Prime Minister Tolkunbek Abdygulov.
According to this protocol, the signatories will aim at building systematic cooperation, including product information exchange, as well as cooperation in steel rolls supplies, including those of broad-gauge rails.
'We are interested in developing partner ties and expanding the market for our rails. We sincerely hope that signing this protocol of intent will start a long-term and mutually beneficial cooperation with Kyrgyz Temir Zholu,' Mechel-Steel Management Company OOO's Chief Executive Officer Andrey Ponomarev commented.
Mechel PAO
Ekaterina Videman
Tel: + 7 495 221 88 88
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.
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.
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