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MECHEL COMPANY IS ON THE VERGE OF BANKRUPTCY

... unable to repay its debts on loans taken 10 years ago to finance the construction of industrial facilities (first of all, a rail and structural steel mill). The head of Mechel is tycoon Igor Zyuzin, whose family owns 51.54% of the holding's shares. Gazprombank owns another 5.45% of the company's shares. The remaining assets are in free float. Mechel PJSC ended last year with a revenue of RUB 265 billion and a profit of over RUB 800 million. However, considering that by the end of the year, the company's ...

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