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MECHEL COMPANY IS ON THE VERGE OF BANKRUPTCY

... holding, the debt to creditors amounted to 250 billion rubles. The company is still 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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