Mechel, one of the leading Russian mining and steel companies, announced on September 20, that it signed a strategic partnership memorandum with SAP AG, the world's leading supplier of business management software solutions.
Accordingly, SAP software solutions will be implemented on specialized industry packages in Mechel's mining, steel and sales divisions.
Mechel and SAP AG also decided to jointly implement the enterprise resource planning project in all of Mechel's sales network business units. The project will be deployed and fully functional in the sales units within 18 months.
The project of a consolidation system for Mechel OAO based on SAP software was launched in 2007 and included all of Mechel's divisions. It enabled the group to optimize a number of important financial processes and standardize collection and processing of the holding's consolidated financial accounting.