OREANDA-NEWS. On June 28, 2007 Mechel OAO (NYSE: MTL), a leading Russian integrated mining and steel group, announced results for the full year, ended December 31, 2006, reported the press-centre of Mechel.

Record consolidated financial results

Significant improvement in steel segment performance

Revised investment program.

Alexey Ivanushkin, Mechel’s Chief Operating Officer, commented: "The past year was the best in Mechel’s history, as we continued our steady development of the Company, guided by our strategy of increasing mining segment output and raising profitability of our steel segment operations. The investment projects implemented to date started to bear fruit, as reflected in the Company’s performance.  Backed by predominantly positive trends in key markets and the actions we have taken to improve our operations, Mechel has achieved record financial results.

Also, our results for the year once again demonstrate the advantages of Mechel’s integrated structure and diversified operations that combine mining and steel production assets, which also enabled the Company to capitalize on positive trends in pricing for metals products while offsetting unfavorable pricing dynamics in coal markets during 2006".

You can find all results at http://www.mechel.com, under the Investor Relations section.