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Foundry Daily News

02. February 2010

RUS - Mechel to cut 2009 steel product output 20-25 pct

Russian steel maker and coking coal miner Mechel  posted strong nine-month results on Thursday, and said it plans to cut steel product output by 20-25 percent in 2009 in response to weaker demand.

The company said it had no plans to cut staff numbers, but would reduce working hours in response to the lower demand, as a result of the global financial crisis.

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