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Moscow, Russia – Further to the Company’s announcement on 15 July 2014, Severstal (MICEX-RTS: CHMF; LSE: SVST), one of the world’s leading vertically integrated steel and steel-related mining companies, announces that via its wholly-owned subsidiary 7027940 Canada Limited, the Company has completed the sale of PBS Coals Inc., a metallurgical coal producer located in Pennsylvania, USA., to Corsa Coal Corp., a Canadian public company.
The sale reflects Severstal's commitment to maximize value creation for its shareholders. For Severstal, with its asset portfolio, PBS Coals is a business which is not operationally linked to the Company's steel facilities.