Severstal has signed an agreement with Kurganstalmost to supply 9.2 thousand tons of hot-rolled sheets for the construction of a bridge in the city of Cherepovets. The metal will be produced at the mill-2800 of Cherepovets Iron and Steel Works. From the sheets Kurganstalmost will make all the necessary metal structures for the bridge. Deliveries…
In December 2019 – January 2020 Severstal supplied 50 thousand tons of corrosion-resistant strips to Zagorsky Pipe Works. The strips were produced at the mill-5000 in Kolpino. Pipes made of such strips could be used at the temperature of –20 degrees C. (Ukrainian metal)
Severstal has announced its capital investment program for 2020. Severstal plans to invest approximately 110.5 billion rubles in 2020, focusing on the key areas of the company’s updated strategy as disclosed during its Capital Markets Day in November 2019 – providing a superior client experience, maintaining cost leadership and embracing new opportunities. However, as previously…
Severstal is negotiating the purchase of Liskimontazhconstruktsia steel pipe manufacturer with its owners. “It’s too early to speak of the sale, but the negotiations are underway”, a source in the regional authorities reported. The rumors of the change in the company ownership started circulating several years ago. The company had difficulties with sales due to…
The Severstal board of directors recommends paying dividends in the amount of 26.26 rubles per ordinary share for October-December 2019. The decision is expected to be approved at a shareholders meeting scheduled for June 5. (Ukrainian metal)
The net profit of Russian steelmaker Severstal fell by 23.7% YoY, to $374 million in October-December 2019, while revenue decreased by 12.9%, to $1.838 billion, and EBITDA went down by 23.5%, to $602 million, as sales and prices fell, the company said in a statement on January 31. Free cash flow slumped by 70.5%, to…
Severstal has invested in the Dutch company Airborne, a global leader in developing digital automation platforms for the production of composite parts, and products with integrated composites. Severstal joins other investors in this investment round, including Pangaea Ventures, the leading advanced materials venture capital fund, and SABIC, the world’s third largest diversified chemical company. Airborne…
The authorities of Yugra have provided land plots for the construction of a Severstal and Tenaris joint venture to produce welded pipes. Severstal has started making project estimates, and until the end of the year will begin construction. The new works will create 500 jobs and will provide payments to the budget at the level…