Russian metal companies look to lower capex: execs

Apr 11, 2013 | 11:29 AM | Daniel Fitzgerald

Tags  VTB Capital Investment Forum, Oleg Mukhamedshin, United Co. Rusal, Alexey Kulichenko, Severstal, Stanislav Ploschenko, Mechel, Wiktor Bielski VTB Capital

NEW YORK — Russian metal and mining companies are focusing on lowering capital expenditures to attract investment and limit exposure, according to speakers at the VTB Capital Investment Forum in New York.

Oleg Mukhamedshin, director of strategy and business development at Moscow-based United Co. Rusal, said that his company and other major aluminum producers need to "focus on the rationalization of excess capacity," including production cuts, in order to bring supply and demand back into balance. ....

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