Russian steel producer Severstal has announced that in Q1 this year its Latvia-based JV subsidiary Severstallat, which is one of the largest metal working, service and metal trading companies in the Baltic States, increased its output of its own steel products (strips and blanks/sheets), exceeding its targets by 47 percent.
This substantial over-fulfillment of the production plan for strips and blanks was possible due to recovery in the export markets, as well as due to the implementation of a large order for strip cuttings from Germany.
In addition, in March this year Severstallat's new line for longitudinal and transverse cutting of rolled steel reached its maximum planned capacity ahead of schedule. The line, supplied by American company RedBud, was installed in 2009 and started production of marketable products in May last year.
The steel blanks or sheets of special sizes, as well as commercial sheets, cut at RedBud's line are being supplied mainly to the markets of European countries such as Finland, Sweden, Germany and Poland.