SteelCorr and SeverStal join to form SeverCorr

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 SeverCorr’s 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 2’000 people, and 450 will be needed to operate the plant when it is complete.