Igor Zyuzin

Igor Vladimirovich Zyuzin (born May 29, 1960) is a Russian businessman, Chairman of the Board of Directors and a major shareholder of the mining and steel group "Mechel". With a personal fortune of US$ 8.9 billion, he was at number 16 on the Forbes list of 200 richest Russian business people. He lost most of his net worth to a record drop in the Mechel stock price by late 2013.

In 1995 Igor Zyuzin and partner Vladimir Iorich formed Uglemetkooperatsiya, a coal-trading company, which was among the first to buy up shares in coal mines and pits in Russia's Kuzbass region. In 2001 the partners bought a controlling stake in Chelyabinsk Metals Factory, which formed the basis of the Mechel Group, which now has more than 20 plants and coals mines around the world. Three years later its shares began trading on the New York Stock Exchange. Now Mechel is in the doldrums. In the first nine months of 2012 the company lost $550 million and racked up $9.1 billion in debt. In September 2012 Mechel announced it was selling assets including factories in Romania, a Lithuanian wire, nails and wire mesh maker called Mechel Namunas, and nicked producer Yuzhuralnickel.

New developments of an old loan


Unexpected involvants may appear in the case of embezzlement (almost 2.8 billion rubles) in Petrocommerce Bank in addition to his former vice-president Denis Milovidov.

Igor Zyuzin: salary feast during the plague


Mechel has a debt of 445 billion rubles, but still pays record sums to its own management.

Owner of Mechel Igor Zyuzin offers to close coal mines


In Russia, almost half of the operating mines are ultra-hazardous, according to the Ministry of Energy

Mechel failed to find its owners


Debt restructuring is delayed due to foreign shareholders.

Poker with bankers: how Igor Zyuzin beat Mechel creditors


Sberbank, VTB and Gazprombank could not deprive the founder of Mechel of control over the company. Now Igor Zyuzin is closer than ever to defeating the creditors

Doctor never came: why Mechel collapsed


Shares of Igor Zyuzin's company collapsed by 40% for no apparent reason.

Mechel will bankrupt the unnecessary: the company does not want to be responsible for the assets of Estar


Mechel has decided not to burden their balance sheets with troubled assets of Estar Group, encumbered to it under the loan in the amount of $ 945 million.

The poorest oligarch: who will rescue Igor Zyuzin after the story with "the doctor"


Mechel has been on the verge of bankruptcy for five years, but it seems that for Igor Zyuzin it doesn't matter at all.