The press service said the takeover was in line with Mechel's strategy, which unites producers of coal, ore, nickel, steel, and highly processed steel products for the domestic and foreign markets, and has focused on the development of its mining assets and its expansion on the coal and coke-chemical markets.
Moskoks produces around 1.5 million metric tons of coke annually, selling it mainly to enterprises based in central Russia and exporting to Ukraine and some European Union countries. Moskoks will now be able to meet its coking coal demand in full.
The enterprise's earnings, calculated to Russian Accounting Standards, stood at 3.149 billion rubles ($117.8 million) in 2005 and net profit was 695.8 million rubles ($26.03 million).
Established in 2003, Mechel is also Russia's second rolled steel producer. It has several metal plants in Russia, Romania and Lithuania.
In 2005, the company's output totaled 15.6 million tons of coal, 5.9 million tons of steel, and 4.6 million of rolled metal.
