SteelCorr and SeverStal join to form SeverCorr
The
SeverStal Group, in conjunction with SteelCorr, has announced the formation of the newly formed SeverCorr LLC to own and operate the yet-to-be-built steel mill in Lowndes County, Mississippi.
Steel industry veteran John Correnti will head up SeverCorrs management team along with several other experienced and capable industry professionals.
Said Correnti, "This is the next generation of steel
production. We are very excited to have a partner with a complementary business philosophy that includes aggressive growth, customer-focus and a return on investment for stakeholders.
SeverCorr will produce hot rolled, cold rolled, and
coated steel products. They expect to begin
production by the third quarter 2007.
Construction of the new plant will employ almost 2000 people, and 450 will be needed to operate the plant when it is complete.