Severstal announces the idling of its hot-end facilities at Severstal Sparrows Point
28.07.2010
DEARBORN, Mich., July, 28, 2010 – Severstal (LSE: SVST), one of the world’s leading integrated steel and mining companies, announces the idling of its hot-end facilities at Severstal Sparrows Point, as of July 25, 2010 as previously scheduled. The idling of blast furnace and steel-making facilities is in response to weakened market demand allowing the company to better optimize production capabilities and balance internal inventories. The hot-end facilities will resume operations once market conditions improve. Hot strip mill and all finishing facilities including tin plating lines of Sparrows Point will continue operating to ensure uninterrupted service of our customers.
Contacts:
Marika Diamond
Severstal North America
T: +1 (313) 317.0569
Vladimir Zaluzhsky
Investor Relations, OAO Severstal
T: +7 (495) 926 7766
Olga Antonova
Public Relations, OAO Severstal
T: +7 (495) 926 7766
About Severstal North America:
Severstal North America is the fourth largest steelmaker in the United States and specializes in the full range of the highest quality light flat rolled products. Fully integrated operations are located in Michigan, Maryland, Ohio and West Virginia. A new state-of-the-art electric arc furnace operation in Mississippi serves the growing demand for steel in the southeastern United States. Severstal North America also has several joint ventures for the highest quality coated products.
About Severstal International:
Severstal International is an operating division of OAO Severstal comprising the North American and European segments.
About OAO Severstal:
OAO Severstal is an international steel and mining company with a listing on the Russian Trading System, Moscow Interbank Currency Exchange and the London Stock Exchange. The company focuses on high value added and unique niche products and operates high-quality assets in Russia, North America and Europe.
