Russian steelmaker Severstal has announced that, via its wholly-owned subsidiary 7027940 Canada Limited, it has completed the sale of PBS Coals Inc., a metallurgical coal producer located in Pennsylvania, US, to Corsa Coal Corp., a Canadian public company.
Severstal said the sale reflects its commitment to maximize value creation for its shareholders. For Severstal, with its asset portfolio, PBS Coals is a business which is not operationally linked to the company's steel facilities.