OAO SUEK strongly maintains that it has not performed coordinated activities to restrict competition or violate consumer rights as cartel member nor acted in breach of antitrust laws.
OAO SUEK had no real opportunity to prepare and submit comprehensive information on the issue to FAS, since the company was made aware of the related questions only in mid-December. Furthermore, the episodes under FAS investigation refer to the 2009 shipment of 200,000 metric tons of coal in the total amount of 87 mln metric tons of coal sold.
SUEK is going to provide FAS with detailed information on the above shipments and is fully prepared for further discussion. We believe that FAS will draw impartial conclusions upon examining the information.
OAO SUEK is a leading Russia-based fuel and energy producing company, the largest national coal producer and a leading world producer and supplier of coal. In 2009 its coal production amounted to 88 mln metric tons, its earnings amounted to $4.7 bln. As of January 1, 2010, the company's coal reserves amount to 5.8 bln metric tons. The company ranks 11-th in coal production worldwide and 3-rd in coal reserves among the global coal market players.