PAO Severstal

  • Land: Russland

Nachricht vom 06.12.2010 | 14:20

OAO Severstal: Press Release


OAO Severstal / Key word(s): Miscellaneous
OAO Severstal: Press Release

06.12.2010 / 14:20

Press Release

Moscow, December 6, 2010.  A continuous hot dip galvanizing line (HDG line)
was officially commissioned in Metalсoating Shop #1 for cold-rolled mill
products at the Cherepovets Steel Mill, part of Severstal Russian Steel
Division.

The commissioning ceremony was attended by Cherepovets' Mayor Oleg
Kuvshinnikov,  chief executive officer of Severstal Russian Steel Division
and General Director of Cherepovets Steel Mill 'Severstal' Alexander
Grubman.

The renovation of the HDG line began on December 1, 2009 and was carried
out as part of the investment project currently under way at the
Cherepovets Steel Mill to increase the production of rolled metal products
for the building industry. In 2010, investments aimed at expanding the
range of products and increasing production for the construction industry
will make up 3,625 million rubles, 800 million rubles more than last year.

'We are planning the new line to eventually produce 400 thousand tons of
galvanized metal per annum, twice as much as did the old one,' Alexander
Grubman said at the ceremony.

'This is a real contribution of our company to the development of civil and
residential construction, including low-rise housing construction. In
addition the products that come off this line will be delivered as blooms
to color coating lines. The second color coating line, where equipment is
currently being installed, is slated for commissioning in 2011. We believe
this will help fully meet the requirements of the Olympic construction in
Sochi, and also new facilities for the 2018 World Cup.'

The new line includes a horizontal annealing furnace supplied by Thermline,
a Foen galvanizing plant, and a VAI Clecim temper mill. The main production
equipment is supplied by CMI. There is also a strip bending and stretching
machine and an electrostatic strip-oiling apparatus, which makes the
renovated HDG line fundamentally different from its predecessor. This
equipment will make it possible to tailor high-quality galvanized rolled
metal products to suit the Client's requirements and preferences.

Severstal Russian Steel, OАО Severstal division, ranks among Russian steel
majors. In the first nine months of 2010, its revenue amounted to USD 6,342
million, EBITDA to USD 1,271 million. In the first nine months, the
Division enterprises were ranked as the most efficient producers in the
world. The Division comprises six segments dealing respectively with steel,
sales, metal goods, pipe, service, and scrap iron.
     

For further information please contact:

Severstal, Investor Relations
Vladimir Zaluzhsky 
T: +7 (495) 926-77-66 
vladimir.zaluzhsky@severstal.com 

Public Relations
Maria Medvedeva
T: +7 (495) 926-77-66 ext. 6536
maria.medvedeva@severstal.com 

Hudson Sandler
Andrew Hayes/Andrew Leach/Maria Ignatova
+44 (0)20 7796 4133 


End of Corporate News


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