Mechel to install a new shearing press

JSC Mechel (NYSE: MTL) announces the installation and commissioning of a new shearing press in the electric arc furnace shop at its Romanian steel plant Mechel Targoviste in compliance with its technical re-equipment plan. The work has been completed in line with the current stage of Mechel Targoviste production facilities modernization program designed for the period of 2007-2011.
The shearing press is designed to process oversized metal scrap and provide steel melting works with high quality charge. This is the second shearing press installed at the plant, with the first put into operation in 2004. The new shearing press is a modern, fully automated unit, and is completely analogous to the current operating equipment in terms of its technical characteristics.
Depending on the metal used for reprocessing, its production capacity ranges from 15 to 22 tn per hour with a cutting force of 700 tn. The manufacturer of the equipment, SIERRA of Italy, is among the global market leaders in manufacturing these units.
The project cost is about EUR 1.0 mln and the payback period of the new equipment is about five months.