Mechel to lay off 1000 workers in Romania

Russian steel and coking coal producer Mechel will dismiss 1,000 workers from its Romanian plants due to lower revenue and earnings at the enterprises there, Romania's Adevarul newspaper reported on Friday. According to the paper, the company told local trade unions that it would dismiss 800 workers from the total staff of 1,900 from Mechel Campia Turzii and 200 workers from Mechel Targoviste due to lack of orders and poor money returns. Mechel also owns Ductil Steel Buzau, Ductil Steel Otelu Rozu, Laminorul Braila plants engaged in steel output as well as coal and iron production in Romania. In 2008 the Russian company paid 142 million euros for Ductil Steel assets. The company was unavailable for comment for RIA Novosti.