The steel output of Severstal contracted by 2% YoY, to 11.847 million tons in 2019 hurt by lower output in the second half of the year after the sale of a long products plant, the company said in a statement on January 17. The negative effect of the sale was partially offset by higher production…
Severstal and Italian Valvitalia have concluded a distribution contract to supply Valvitalia products and solutions for power industry. Valvitalia products have all the necessary international certificates (API and ISO). Tube fittings have already been supplied for Yamal LNG, Sakhalin-2 and South Stream construction. For over 10 years Severstal has been supplying Russian power companies with…
At an extraordinary meeting Severstal shareholders have approved paying dividends for January-September in the amount of 27.47 rubles per ordinary share. The combined amount of dividends in 2019 is expected to reach 117 rubles. Alexei Mordashov owns 77.02% of shares, 21.51% are free float and 1.47% belong to the Treasury. (Ukrainian metal)
Russian steelmaker Severstal has invested about 1 billion rubles in an upgrade of subsidiary Izhora Pipe Mill that would allow the plant to produce electric welded pipes with diameters starting from 508 millimeters. The upgrade’s goal is to set up production of pipes for the Yuzhno-Kirinskoye gas condensate field of Gazprom. The plant expects production…
The project to construct a pipe works in Surgut, a joint venture of Severstal and Tenaris, is being carried out according to the schedule. The first start of the enterprise is planned for 2021. The full capacity will be reached in 2023-2024. The domestic market is expected to get the main volume of products. The…
Severgroup of tycoon Alexei Mordashov expects a more than 400-billion ruble support in the framework of the law of protection and promotion of investments, a representative of the group reported. “Severgroup presented projects worth more than 400 billion rubles to the workgroup for the bill, all of them will favor fulfillment of the national priorities,”…
Severstal Board of Directors has recommended paying dividends for Q3 in the amount of 27.47 rubles per share. The decision will be taken at the extraordinary shareholders’ meeting scheduled for November 22. If the meeting approves of the decision, the date of creation of the list of shareholders liable for dividends will be December 3.…
In January-September Severstal received $1.393 million of net profit, down by 5.4% YoY. Revenue dropped by 2.7%, to $6.319 million EBITDA decreased by 6.2%, to $2.203 million. (Ukrainian metal)
