First victim of Russian gas - Mechel Targoviste

The minister said the closing down of Russian gas supply represents a serious problem for Romania, compelling authorities to "maintain the national transport system functioning" so that the population should not be affected in any way. About 3,000 employees of Mechel Targoviste have been in technical unemployment since November, on the background of the economic crisis.Mechel Targoviste manufactures alloyed and non-alloyed steel and has about 3,700 employees. The social capital of the company is 172.13 million lei, divided into 68.85 million shares with a nominal value of 2.50 lei.The main shareholders are Mechel International Holding AG, with 86.60% of the social capital and SIF OLtenia with 8.92%. AVAS also has 4.05% of company shares. Mechel, an industrial giant in the field of steel and coal is owned by the Russian magnate Igor Ziuzin. In 2008, Vladimir Putin accused the concern held by Ziutin of affecting Russia's state budget by selling at low prices abroad. Putin's statement was followed by the serious drop of Mechel shares at the Moscow exchange. Mechel also owns Ductil Buzau and the Wire Plant in Campia Turzii.

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