MOSCOW, Aug. 16, 2010 (GLOBE NEWSWIRE) -- Mechel OAO (NYSE:MTL), one of the leading Russian mining and metals companies, continues the tradition of corporate health rehabilitation for children of its subsidiaries' employees.
In line with Mechel OAO's corporate program on recreation and health rehabilitation of employees' children, the company provides tours to health resort facilities for summer holidays, for the 7th time already.
This year the company continues a successful practice of corporate session at the coastal camp Morskaya Volna (The Sea Wave), located in the Krasnodar Territory. For the first time the session becomes international. About 900 children whose parents work at 32 Group's subsidiaries, located in 12 regions of Russia, as well as children of employees of Mechel's Romanian plants have recreation and rehabilitation in a picturesque part of Tuapse region. The children stay at a comfortable and convenient campus having 5 meals a day.
Teachers and psychologists have developed an exciting, entertaining program named "The Country of Mechel" for the whole time of the session. Due to this program in addition to the joy of summer holidays children will obtain new skills and knowledge. The program will help them to develop, reveal their talents and perhaps choose their future profession.
Twice as many children have arrived to the Morskaya Volna сamp this year compared to the previous one. Parents paid not more than 15% of the tour cost whereas Mechel Group undertook the rest of the expenses. The company also cares about children who remain in their regions: they have vacations in local recreation and rehabilitation camps.
Mechel is one of the leading Russian companies. Its business includes four segments: mining, steel, ferroalloy and power. Mechel unites producers of coal, iron ore concentrate, steel, rolled products, ferroalloys, 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.