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Further to the Company’s announcement on 21 July 2014, Severstal (MICEX-RTS: CHMF; LSE: SVST), one of the world’s leading vertically integrated steel and steel-related mining companies, announces that the Company has completed the sale of its Severstal Columbus, LLC and Severstal Dearborn, LLC subsidiaries, collectively known as Severstal North America, to Steel Dynamics, Inc. and AK Steel Corporation, respectively.
Alexey Mordashov, CEO of Severstal, commented: “I would like to express gratitude to the whole team and to every employee of Severstal North America for achieving a lot together. I wish you the best of luck in all your future endeavours ”.
The sale of Columbus and Dearborn unlocks substantial value to Severstal’s shareholders.