Two of three Mechel plants post profit in Q3

The cumulated turnover of three of the four complexes owned by Russia’s Mechel group in Romania that are listed on the Bucharest Stock Exchange in the first nine months of this year rose by 83%, to 1.23bn RON (294.4m euros).

Mechel Târgoviște special steel plant (COS) saw its turnover go up by 56% in the first nine months, to 601.6m RON (143.7m euros), a pace that maintained in the third quarter. Still, the company’s losses widened by 29% in July-August period, to 31.2m RON, so that nine-month losses reached 79.5m RON. In the first three quarters of 2009, Mechel Târgoviște had posted bigger losses, of 97.1m RON.
Another two plants owned by Mechel in Romania, namely the one of Câmpia Turzii and Laminorul Brăila (LMRU), have managed to step into the black in the third quarter, with a net profit of 5.8m RON and 18.7m RON, respectively, after having posted significant losses in the previous quarters.
All the three plants had been loss-making at the end of the first nine months of this year, with the overall negative result standing at 140.1m RON.