Completion of Mini-Mill Balakovo Sale

Completion of Mini-Mill Balakovo Sale

 

July 25, 2019, Moscow - PAO Severstal, one of the world's leading steel and steel-related mining companies, announces that it has completed the sale transaction of Mini-Mill Balakovo to AbinskElectric Steel Works LTD. The consideration of the transaction is $215 million.

 

The sale of Mini-Mill Balakovo will enable Severstal to focus fully on steel production at its main asset, the Cherepovets Steel Mill (CherMK). As a result, the Company will streamline its internal processesin order to successfully execute its updated strategic priorities.

 

Following the sale of Mini-Mill Balakovo, Severstal will continue to supply long products via its long product facilities at CherMK.

 

 

For further information, please contact:

 

Investor Relations

Evgeny Belov

T: +7 (495) 926-77-66

evgenii.belov@severstal.com

 

Public Relations

Anastasia Mishanina

T: +7 (495) 926-77-66

anastasia.mishanina@severstal.com

 

 

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PАО Severstal is one of the world's leading vertically-integrated steel and steel related mining companies, with assets in Russia, Latvia and Poland. Severstal is listed on RTS and MICEX and the company's GDRs are traded on the LSE. Severstal reported revenue of $8,580 million and EBITDA of $3,142 million in 2018. Severstal's crude steel production in 2018 reached 12.0 million tonnes. www.severstal.com