Russia's metal giant Mechel posts $2 bln net profit in Jan-Sep

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MOSCOW, November 14 (RIA Novosti) - Mechel, Russia's leading mining and metals company, posted on Friday net RAS profits of 61 billion rubles ($2 billion) in January-September 2008, against a $141 million loss in the same period of 2007.

The company's revenue reached 7.5 billion rubles ($270 million) in the reporting period, almost 28 times more than January-September 2007.

Mechel is one of the leading Russian companies, uniting producers of coal, iron ore concentrate, nickel, steel, rolled products, hardware, heat and electric power. The company sells its product both on domestic and international market.

Last year, Mechel increased coal output 25% to 21.2 million metric tons, and its rolled steel production went up 9% to 5.1 million metric tons.

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