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Alexey Mordashov is elected as a Vice-Chairman of the World Steel Association

12.10.2011

The Board of Directors of the World Steel Association (worldsteel) has elected Severstal’s CEO, Alexey Mordashov, as one of its two Vice Chairmen. worldsteel is a non-profit organization with headquarters in Brussels, Belgium, acting as the focal point for the steel industry.

Alexey Mordashov is replacing Xiaogang Zhang, President of Anshan Iron & Steel Group Corporation, who becomes the Chairman of the Board. The former Chairman, Hajime Bada, President & CEO of JFE Holdings Inc., will proceed to work as another Vice-Chairman. The new officers will occupy their current positions for one year, until October 2012.

Severstal has joined worldsteel in 2001, recording itself as the first Russian member of association and one of the main contributors to its activity via participation in all major committees, special projects and initiatives. These include the Living Steel programme to promote steel housing, the Future Steel Vehicle Program to increase the fuel efficiency of automobiles, the “Russia-2020” project to explore the economic and steel industry trends of Russia’s long-term development, and others.

Аlexey Mordashov commented: “We at Severstal are pleased to be among the long-standing participants of worldsteel and to contribute in promoting steel as the material of choice for a broad number of industries and applications”.

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ОАО Severstal is one of the world’s leading vertically integrated steel and steel related mining companies, with assets in Russia, the USA, the Ukraine, Latvia, Poland, Italy, Liberia and Brazil. Severstal’s gold business, Nordgold, was established in 2007 and comprises mines and exploration projects in Russia, Kazakhstan, Burkina Faso and Guinea. Severstal is listed on RTS and MICEX and the company’s GDRs are traded on the LSE. Severstal reported revenue of $13,573 million and EBITDA of $3,263 million in 2010. Severstal’s crude steel production in 2010 was 14.7 million tonnes.www.severstal.com

The World Steel Association (worldsteel) is one of the largest and most dynamic industry associations in the world. worldsteel represents approximately 170 steel producers (including 18 of the world's 20 largest steel companies), national and regional steel industry associations, and steel research institutes. worldsteel members produce around 85% of the world's steel. www.worldsteel.org

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