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22 May 12 China Greenlights Google-Motorola Mobility Deal


Chinese authorities have approved Google’s bid to acquire Motorola Mobility, clearing the final regulatory hurdle in a $12.5 billion deal initiated in August 2011 that gives the search giant a mobile device hardware business to go along with its successful Android operating system for smartphones and tablets.

Regulators in other major regional markets, including the U.S., had already okayed the merger. In exchange for approving the deal on Friday, the Chinese Commerce Ministry’s Anti-Monopoly Bureau extracted a pledge from Google that it would keep Android free and available without discrimination to all device makers for at least five years, The Wall Street Journal reported.

Last January, Motorola divided its mobile device business and its telecommunications equipment business into two independent public companies. Google announced its intent to acquire the former company, now known as Motorola Mobility, on Aug. 15, 2011 in order to “supercharge” its Android mobile operating system and build up its patent portfolio.

Google CEO Larry Page said at the time that the search giant intended “run Motorola as a separate business” and that Google remained committed to keeping Android open and available to all device makers. Andy Rubin, senior vice president of mobile at Google, said “the top five Android licensees” had been consulted ahead of the acquisition and “they all showed very enthusiastic support for the deal.”

Earlier this month, it was reported that Google plans to give multiple mobile device makers early access to its next version of Android in an attempt to create a more robust ecosystem to take on Apple and also to reassure partners that its Motorola Mobility acquisition won’t squeeze them out.

It has also been reported that Google wants to sell co-branded “Nexus” phones running Android Jellybean, the next version of the mobile operating system. It’s unclear whether this rumored phone or phones, which Google would reportedly sell through its own online store, would be built by Motorola Mobility or another Android partner.

The Google-Motorola Mobility merger could close in just a couple of days and layoffs at Motorola Mobility might be in the offing soon after, according to TechCrunch.

Motorola Mobility on Friday filed an 8-K form with the U.S. Securities and Exchange Commission informing the SEC of the Chinese regulators’ decision to clear the deal and the two companies’ intent to finalize the transaction within two business days.

After that, Google will conduct a “listening tour” of Motorola Mobility operations, TechCrunch reported, citing an unnamed source. Google management will be “seeing what everyone does, then making decisions,” the source was quoted as saying. The tech site also claimed to have heard that “there will be layoffs coming imminently.”

For more from Damon, follow him on Twitter @dpoeter.

For the top stories in tech, follow us on Twitter at @PCMag.

Article source: http://www.pcmag.com/article2/0,2817,2404702,00.asp

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22 Feb 12 Mechel Reports Launch of Chrome Briquette Production at Tikhvin Ferroalloy Plant


MOSCOW, Feb 21, 2012 (GlobeNewswire via COMTEX) –
Mechel OAO


/quotes/zigman/359568/quotes/nls/mtl MTL
+0.38%



, one of the leading Russian mining and metals companies, reports the launch of a chrome briquette producing workshop at Tikhvin Ferroalloy Plant, which is part of Mechel’s ferroalloys division.

The launch of the workshop producing chrome briquettes out of concentrate of small-fraction chrome ore will increase the furnaces’ capacity from 12 to 14.4 MW, significantly broaden the plant’s ore base and fully use the dust formed during the gas purification process.

The briquette-producing workshop will have the monthly production capacity of 5,500 tonnes of chrome briquettes.

Investment in the project totaled over 350 million rubles (nearly 11.8 million US dollars*).

Mechel Ferroalloys Management OOO’s Chief Executive Officer Gennady Ovchinnikov noted: “Chrome briquette production will not only increase output of high-carbon ferrochrome to the maximum by raising the furnaces’ capacity, but will also ensure ecological safety as we utilize the chrome-containing dust from gas purification. The chrome briquette production will shortly be up to its designed capacity.”

* Based upon the Russian Central Bank exchange rate of 29.78 RUR/$ as of February 21, 2012.

Mechel is one of the leading Russian companies. Its business includes four segments: mining, steel, ferroalloy and power. Mechel unites producers of coal, iron ore concentrate, nickel, ferrochrome, ferrosilicon, steel, rolled products, hardware, heat and electric power. Mechel products are marketed domestically and internationally.

The Mechel OAO logo is available at

http://www.globenewswire.com/newsroom/prs/?pkgid=8181

Some of the information in this press release may contain projections or other forward-looking statements regarding future events or the future financial performance of Mechel, as defined in the safe harbor provisions of the U.S. Private Securities Litigation Reform Act of 1995. We wish to caution you that these statements are only predictions and that actual events or results may differ materially. We do not intend to update these statements. We refer you to the documents Mechel files from time to time with the U.S. Securities and Exchange Commission, including our Form 20-F. These documents contain and identify important factors, including those contained in the section captioned “Risk Factors” and “Cautionary Note Regarding Forward-Looking Statements” in our Form 20-F, that could cause the actual results to differ materially from those contained in our projections or forward-looking statements, including, among others, the achievement of anticipated levels of profitability, growth, cost and synergy of our recent acquisitions, the impact of competitive pricing, the ability to obtain necessary regulatory approvals and licenses, the impact of developments in the Russian economic, political and legal environment, volatility in stock markets or in the price of our shares or ADRs, financial risk management and the impact of general business and global economic conditions.

This news release was distributed by GlobeNewswire,
www.globenewswire.com

SOURCE: Mechel OAO


        CONTACT: Mechel OAO
        Ekaterina Videman
        Tel: + 7 495 221 88 88
        ekaterina.videman@mechel.com

(C) Copyright 2010 GlobeNewswire, Inc. All rights reserved.

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Article source: http://www.marketwatch.com/story/mechel-reports-launch-of-chrome-briquette-production-at-tikhvin-ferroalloy-plant-2012-02-21

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21 Feb 12 Mechel Reports Launch of Chrome Briquette Production at Tikhvin Ferroalloy Plant


MOSCOW, Feb. 21, 2012 (GLOBE NEWSWIRE) — Mechel OAO (NYSE:MTL – News), one of the leading Russian mining and metals companies, reports the launch of a chrome briquette producing workshop at Tikhvin Ferroalloy Plant, which is part of Mechel’s ferroalloys division.

The launch of the workshop producing chrome briquettes out of concentrate of small-fraction chrome ore will increase the furnaces’ capacity from 12 to 14.4 MW, significantly broaden the plant’s ore base and fully use the dust formed during the gas purification process.

The briquette-producing workshop will have the monthly production capacity of 5,500 tonnes of chrome briquettes.

Investment in the project totaled over 350 million rubles (nearly 11.8 million US dollars*).

Mechel Ferroalloys Management OOO’s Chief Executive Officer Gennady Ovchinnikov noted: “Chrome briquette production will not only increase output of high-carbon ferrochrome to the maximum by raising the furnaces’ capacity, but will also ensure ecological safety as we utilize the chrome-containing dust from gas purification. The chrome briquette production will shortly be up to its designed capacity.”

* Based upon the Russian Central Bank exchange rate of 29.78 RUR/$ as of February 21, 2012.

Mechel is one of the leading Russian companies. Its business includes four segments: mining, steel, ferroalloy and power. Mechel unites producers of coal, iron ore concentrate, nickel, ferrochrome, ferrosilicon, steel, rolled products, hardware, heat and electric power. Mechel products are marketed domestically and internationally.

The Mechel OAO logo is available at http://www.globenewswire.com/newsroom/prs/?pkgid=8181

Some of the information in this press release may contain projections or other forward-looking statements regarding future events or the future financial performance of Mechel, as defined in the safe harbor provisions of the U.S. Private Securities Litigation Reform Act of 1995. We wish to caution you that these statements are only predictions and that actual events or results may differ materially. We do not intend to update these statements. We refer you to the documents Mechel files from time to time with the U.S. Securities and Exchange Commission, including our Form 20-F. These documents contain and identify important factors, including those contained in the section captioned “Risk Factors” and “Cautionary Note Regarding Forward-Looking Statements” in our Form 20-F, that could cause the actual results to differ materially from those contained in our projections or forward-looking statements, including, among others, the achievement of anticipated levels of profitability, growth, cost and synergy of our recent acquisitions, the impact of competitive pricing, the ability to obtain necessary regulatory approvals and licenses, the impact of developments in the Russian economic, political and legal environment, volatility in stock markets or in the price of our shares or ADRs, financial risk management and the impact of general business and global economic conditions.

Article source: http://finance.yahoo.com/news/mechel-reports-launch-chrome-briquette-155819259.html

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