MOSCOW, Aug. 5 /PRNewswire-FirstCall/ -- Mechel OAO (NYSE: MTL), one of
the leading Russian mining and metals companies, carries on its corporate
tradition to arrange recreation and health promotion for children of its
subsidiaries' employees.
In line with its corporate program of recreation and health promotion for
children of its subsidiaries' employees, Mechel OAO provides vouchers at a
reduced price for the summer recreation of children of its subsidiaries'
employees. Over 33.5 million rubles (USD$1.43 million*) were allocated for
this program in 2008, which enables 7,500 children to participate.
Out of that number, 500 children, whose parents work at Southern Kuzbass
Coal Company, Korshunov Mining Plant, Yakutugol, Urals Stampings Plant,
Beloretsk Metallurgical Plant, Izhstal, Moscow Coke and Gas Plant, Bratsk
Ferroalloys Plant and other Mechel's subsidiaries, were sent to Primorskiy
children's therapeutic and health promotional summer camp near the town of
Gelendzhik at the Black Sea coast. The children at the summer camp received a
variety of lessons and exercises, opportunities for sea bathing, and took part
in various excursions, including visits to a dolphinarium.
Another 205 children went for recreation to the resort town of Kiten on
the Bulgarian Black Sea coast. The children will spend 14 days in the town's
international sport and entertainment camp, called Campus. The tour to
Bulgaria also includes a number of interesting excursions and events. Before
taking a flight to Bulgaria, the children visited several historical sites in
Moscow.
Over 6,700 children are spending their holidays in the children's camps
situated in the locations of Mechel's subsidiaries. Each camp provides many
opportunities for active recreation and health promotion.
In addition, Mechel provided 40 vouchers to resorts and will pay the fare
for the children from large families as charity.
Mechel's social welfare programs are intended to improve the standard of
living of employees, veterans of work, and pensioners, and allow the company
to achieve better operational and financial results. One of the most important
aspects of Mechel's social policy is to care for its families and children.
* According to the Russian Central Bank exchange rate of 23.4039 RUR/$ as
of August 5, 2008.
Mechel is one of the leading Russian companies. Its business includes
three segments: mining, steel, and power. Mechel unites producers of coal,
iron ore concentrate, nickel, steel, rolled products, hardware, heat and
electric power. Mechel products are marketed 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.
SOURCE Mechel OAO
