BAAR, Switzerland, Dec. 21, 2017 (GLOBE NEWSWIRE) -- Mechel PAO (MOEX:MTLR) (NYSE:MTL), one of the leading Russian mining and metals companies, reports signing a memorandum on coke supply with a major Balkans steelmaker, HBIS Group Serbia Iron & Steel.

According to the agreement, Moscow Coke and Gas Plant will supply its Serbian partner with up to 120,000 tonnes of coke products or some 30,000 tonnes quarterly. Supplies will be made in January-December 2018. Prices will be determined on a quarterly basis following negotiations.

Earlier in 2017, several trial batches of metallurgical coke were shipped to HBIS Group Serbia Iron & Steel, which is a subsidiary of a leading Chinese steelmaking holding,  Hebei Iron & Steel Group.

In the first nine months of 2017, 35% of Moscow Coke and Gas Plant’s products were marketed domestically and some 65% were exported.

“Serbia’s market is of major interest to us due to comfortable logistics and stable demand for coke. Until now, Mechel’s sales subsidiaries sold coke in that country on spot basis. This agreement launches a new stage of our partnership with  HBIS Group Serbia Iron & Steel. In the future, we plan to increase our supplies to this key client in the Balkans,” Mechel Mining Management OOO’s Chief Executive Officer Pavel Shtark 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.

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.