Mechel OAO installs new equipment at Southern Urals Nickel Plant OAO subsidiary

Fri. September 19, 2008; Posted: 09:02 AM

Sep 19, 2008 (M2 EQUITYBITES via COMTEX) -- MTL | Quote | Chart | News | PowerRating -- Mechel OAO (NYSE: MTL), a Russian mining and metals company, said on 18 September that it has upgraded the machine tool equipment base at its Southern Urals Nickel Plant OAO subsidiary with the installation of a new large lathe RT-117-5, valued at approximately RUR6.0m, in the Casting and Mechanical Workshop. The company stated that the universal lathe is mostly designed to manufacture and renovate shafts of up to five meters in length and crane wheels, process the rotors of sinter machines, and manufacture sinter cutting knives. The workshop also plans to replace its Skoda boring machine and its vertical milling machine. The company has purchased an 8-tonne telpher and a sling testing jig for the Casting and Mechanical Workshop, in line with the plant's programme to upgrade the equipment in its auxiliary shops.

Mechel OAO said that it will invest approximately USD350.0m in capital expenditure for the development of its Southern Urals Nickel Plant OAO subsidiary until 2012.

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For full details on Mechel Steel Group OAO ADS (MTL) click here. Mechel Steel Group OAO ADS (MTL) has Short Term PowerRatings of 6. Details on Mechel Steel Group OAO ADS (MTL) Short Term PowerRatings is available at This Link.

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