Severstal to restart idled North American facilities

Monday, 25 January 2010 20:46:37 (GMT+2)

Russia-based global steelmaker OAO Severstal (Severstal) announced Monday that as part of its North American 2010 operating plan, certain facilities will be restarted that had been idled previously as a result of weak market conditions.

Severstal said its decision to restart idled facilities follows an improving trading performance and that while the market outlook in North America remains fragile, management is confident that the improving trading environment warrants the restart of its various North American facilitates as part of its long-term commitment to this important market.

Accordingly, Severstal Warren, a fully-integrated steel plant, is scheduled to restart its blast furnace, steelmaking and hot strip mill facilities late in the first quarter of 2010. In addition, Severstal North America's Mountain State Carbon coke-making subsidiary in Follansbee will ramp up to full production by the end of January 2010.

As previously announced, the Severstal Wheeling coating lines will also return to service in late January 2010. Severstal Wheeling's cold rolling complex returned to operation in December 2009.

Sergei A. Kuznetsov, CEO of Severstal North America, said: "Our North American strategy remains to be a long-term market leader, serving domestic and export customers with light flat rolled steel from five plants. Severstal North America anticipates an improving market for its products over 2010, and we are encouraged by the support we are receiving from all constituencies to resume operations at Warren."

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