Mechel inks memorandum of cooperation with Japan’s Mitsui & Co.

Monday, 10 August 2009 17:32:31 (GMT+2)   -  

Tags: pig iron , billet , raw mat , semis , Japan , Far East , Mechel , production , freight , distribution , trading | similar articles » SteelOrbis News

Mechel, one of the leading Russian mining and metals companies, has announced that it has signed a memorandum of cooperation with Japan-based leading global diversified trading and investment enterprise Mitsui & Co. Corporation (Mitsui & Co.).

Within the intention of expanding the geographical scope of their activity and the assortment of their production for sale, including high quality products, Mechel and Mitsui & Co. are planning to cooperate in different directions, among which are marketing and sale of metal production and resources, including coal, all types of ferroalloys, pig iron, billet and other types of iron and steel products. The parties are also planning joint investment projects, including organization of joint ventures in the sphere of primary goods production, production of ferrous and non-ferrous metallurgy, sales and distribution.

In addition, the cooperation will also extend to the sphere of logistics, where the parties intend to study the possibilities and take joint action in order to optimize commodity flows and minimize expenses on cargo transportation.

Mechel and Mitsui & Co. also intend to cooperate in the sphere of finance engagement, so as to develop mutually profitable joint projects, and to establish working groups, which are to consist of representatives of both parties, aiming at effective realization of joint arrangements in the frame of this memorandum.