Russian steel producer Severstal has announced that it has completed the sale of its Severstal Columbus and Severstal Dearborn subsidiaries, collectively known as Severstal North America, to US-based steelmakers Steel Dynamics and AK Steel Corporation, respectively.
Alexey Mordashov, CEO of Severstal, commented, "I would like to express gratitude to the whole team and to every employee of Severstal North America for achieving a lot together. I wish you the best of luck in all your future endeavors."
The sale of Columbus and Dearborn unlocks substantial value to Severstal's shareholders.