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Severstal unveils new client-centric corporate structure

PAO Severstal announces that the Company’s organizational structure has been reconfigured to support its updated strategy and ensure it consistently delivers an excellent customer experience. Based on agile business principles, all of the Company’s production and “selling” divisions now fall under two streams – upstream and downstream, for which common business goals are set. Upstream…

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Steel market may turn the corner soon: RINL CMD

‘Budgetary allocation will give market a boost’ Rashtriya Ispat Nigam Limited (RINL) Chairman-cum-Managing Director P.K. Rath on Thursday exuded confidence that the sluggish market being witnessed by the steel industry would be overcome this year. Mr. Rath hoisted the tricolour and inspected the guard of honour during the 73rd Independence Day celebrations organised at Ukkunagaram.…

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The Eurasian Economic Commission (EEC) will impose a quota for hot-rolled flat steel imports to members of the Eurasian Economic Union (EEU) for one year starting from December 1, 2019.

The Eurasian Economic Commission (EEC) will impose a quota for hot-rolled flat steel imports to members of the Eurasian Economic Union (EEU) for one year starting from December 1, 2019. The EEU countries are Russia, Belarus, Armenia, Kazakhstan and Kyrgyzstan. The total quota for the EEU bloc will be 1.33 million tonnes, the EEC announced…

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Lancashire Steel says requires additional funding

KWEKWE-BASED wire-making company, Lancashire Steel says it needs an additional ZWL$19 million to ensure it smoothly emerges from the woods after closing down in 2010 due to operational constraints. The firm, which is about to resume operations recently received ZWL$2 million from Government through the Zimbabwe Asset Management Company (Zamco). In an interview, Lancashire Steel…

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Turkey’s military pension fund, OYAK, has reached a provisional agreement to buy steelmaker British Steel, OYAK said on Friday August 16.

Turkey’s military pension fund, OYAK, has reached a provisional agreement to buy steelmaker British Steel, OYAK said on Friday August 16. OYAK is the biggest shareholder of Turkey’s largest steel producer, Erdemir Group, and this agreement is a step toward in its goal to become a regional leader in steel sector, OYAK said.  British Steel…

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