Cherepovets Iron and Steel Works (CherMK), one of the largest integrated steel plants in the world (a part of Severstal’s Russian Steel division), has announced plans to increase the amount of electricity it generates using by-product industrial gases. CherMK consumes 5.9 billion kWh of electricity per year, 78% of which the plant generates itself. As…
The steel output of Severstal remained almost flat YoY at 9.133 million tons in January-September, the company said in a statement on October 11. Cast iron output went up by 3%, to 7.125 million tons in the period. Consolidated sales of steel products remained flat at 8.503 million tons. In July-September steel output shrank by…
Severstal intends to borrow $800 million by issuing bonds with a maturity of 5 years. The interest rate will be 3.15%. The demand for the bonds with the maturity in September 2024 exceeded $2.2 billion. The company held a road show in London, Frankfurt and New York on September 5-6. Citi, KP Morgan, Societe Generale,…
At the extraordinary meeting Severstal shareholders have approved of paying dividends for Q2 in the amount of 26.72 rubles per ordinary share as opposed for 45.94 rubles in Q2 2018. The dividends will be paid to the shareholders who are registered as of September 17. The total amount of dividends to be paid is 22.384…
Severstal and Altaiwagon have signed a yearlong agreement on the delivery of 1.5 thousand tons of hot-rolled metal each month. The minimal volume of metal delivered will reach 18 thousand tons. Cherepovets Iron and Steel Works supplies metal from the hot-rolling mills 2000 and 2800 for the manufacture of the rolling stock. Especially for the…
Russian steelmaker Severstal sold more than 3,000 polymer-coated rolled metals under the Steel Silk and Steel Velvet brands to the E.U. clients in January-July, the company said in a statement on August 15. The company did not sell these brands of rolled metals to the E.U. last year, and it had to ensure compliance with…
In January-June Severstal sold 2.9 million tons of metal to Russian construction companies, up by 16% YoY. This year the group decided to focus on end consumers and restructured its operation with metal traders. The increase of sales was favored by the expansion of geography of sales and the development of logistics. For example, Severstal…
In January-June Severstal purchased 12.2 billion rubles worth of goods and services from the Vologda region enterprises, up by 5 billion rubles YoY. The share of the region in the group combined procurement reached 17%. The increase is due to the major investment program at Cherepovets Iron and Steel Works. (Ukrainian metal)