The Russian mining and steel producing company Mechel has announced the acquisition of a 100 percent stake in the Temryuk-Sotra seaport, which represents a further step for the company in the development of its own coal and steel product transportation infrastructure.
The Temryuk-Sotra seaport is located on the Taman shore of the Azov Sea and specializes primarily in coal transshipment.
Commenting on the transaction, Mechel Management Company CEO Mr. Vladimir Polin stated, "This acquisition will provide us with even more capabilities to regulate the logistics of our deliveries, including our export shipments, to minimize dependence on transport market conditions, and deliver products from producer/seller to end consumers avoiding brokers, thus reducing our transportation costs, increasing flows of traffic, and expanding our sale markets."