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Company Profile
ОАО Severstal is one of the world’s leading vertically
integrated steel and steel related mining companies, with assets in Russia and
the USA, in Ukraine, Latvia, Poland, Italy, Liberia and Brazil.
Severstal is listed on MICEX and the company’s GDRs are traded on the
LSE. Severstal reported revenue of $13,573 million and EBITDA of $3,263
million in 2010. Severstal’s crude steel production in 2010 reached 14.7
million tonnes.
The company has 3 divisions:
Events
- 2010 - Severstal efficiently capitalized on the improving market
conditions. Revenue for the year increased by 41.5% to US$13,573 million
as a result of increased sales growth in each of our segments. EBITDA reached
3,263 million in 2010 increased by 105.3%.
- 2010 - Severstal launched a joint venture stamping facility with Gestamp
and joint venture steel service center with Gonvarri – both in Kaluga region,
several hundred km from Moscow.
- 2010 - A renovated HDG line is launched in Cherepovets adding 400,000
tonnes of new galvanizing capacity.
- 2010 - Severstal consolidated its gold business under Nordgold, which
became an established pure-play gold producer focused on emerging markets.
- 2010 - Severstal launced TPZ Sheksna with 250,000 tonnes of welded tubes
and profiles for construction.
- 2010 - Following the development of the Mission, Vision and Values of
Severstal in 2009, Severstal made another step forward towards internal
efficiency. Company worked out a set of principles and tools named the Business
System of Severstal implanting desired behavior models among the employees and,
as a consequence, enable cultural transformation of Severstal, as well as
achievement of the company’s strategic goals.
- 2010 - In North America, the Group sold Northern Steel Group, the processor
and distributor of steel products.
- 2010 - Severstal announced its plans to sell steelmaking facilities of
Warren, OH, Wheeling, WV, and Sparrows Point, MD.
- 2010 - In Europe, the Group reduced its stake in Lucchini S.p. A. to
49.2%
- 2010 - The Group acquired a 16.5% stake in Core Mining which controls
exploration licences for the Avima iron ore deposit in the Republic of Congo
(Brazzaville) and the Kango iron ore deposit in the Republic of Gabon.
- 2010 - The Group acquired an exploration and development license for the
Tsentralnyi field in Tyva republic, South Siberia, with a resource potential of
640 million tonnes of high-quality hard coking coal.
- 2010 - Severstal completed the acquisition of a 25.6% stake in Iron Mineral
Beneficiation Services (Proprietary) Limited (IMBS), a research and development
company based in Johannesburg, South Africa. IMBS has developed a coal-based
Finesmelt technology capable of processing unusable iron ore fines and thermal
coal into valuable metallic products similar to DRI/HBI.
- 2010 - Severstal and NMDC, the leading iron ore producer in India and one
of the major global suppliers of iron ore, signed a Memorandum of Understanding
to establish a joint venture company to build an integrated steel plant, with a
capacity between 2 and 5 million tonnes (to be determined at feasibility
stage). The plant will be located in the state of Karnataka, close to the
industrial heartland of southern and western India and close to multiple iron
ore mines.
- 2010 -The Group acquired a 25.6% stake in Iron Mineral Beneficiation
Services (Proprietary) Limited (IMBS) for a total consideration of US$ 7.5
million. IMBS is a research and development company based in Johannesburg,
South Africa. IMBS has developed a coal-based Finesmelt technology capable of
processing unusable iron ore fines and thermal coal into valuable metallic
products similar to DRI/HBI. Currently IMBS is developing its first commercial
project in Phalaborwa, South Africa.
- 2009 - Severstal introduces a new brand and mission, vision and values of
the company and starts up the corporate culture transformation project.
- 2009 - According to Metal Bulletin ratings, Severstal remains the largest
producer by volume among companies in the CIS.
- 2009 - Severstal announces strong financial results for 2008. Revenues and
net profit increased by 44.4% and 9.9% respectively, year on year.
- 2008 - Severstal acquires African Iron Ore Group Ltd (AIOG) in western
Africa. After the acquisition, AIOG changes its name to Severstal Liberia Iron
Ore Ltd.
- 2008 - Severstal acquires a 53% stake in High River Gold, the owner of a
number of plants and Buryatia and Amur Region and a gold mine in Burkina Faso
(Africa). This deal makes Severstal Russia’s second-largest gold mining
company.
- 2008 - Severstal acquires PBS Coals, a coking coal producer based in
Pennsylvania, USA.
- 2008 - Severstal acquires Balazhal, an East Kazakhstan-based gold mining
company.
- 2008 - Severstal acquires Esmark Incorporated based in West Virginia, later
renamed Severstal Wheeling.
- 2008 - Severstal acquires WCI based in Ohio, USA. The company is later
renamed Severstal Warren.
- 2008 - Reorganization of OAO Severstal. Three divisions are created:
Severstal Russian Steel, Severstal Resources and Severstal International.
- 2008 - Severstal approves company-wide HSE corporate policy.
- 2008 – Severstal acquires Sparrows Point based in Maryland, USA. The
company is later renamed Severstal Sparrows Point.
- 2007−2008 – Severstal acquires exploration and gold mining licenses for six
fields in Irkutsk Region and Trans-Baikal Province.
- 2007 – Launch of SeverCorr mini-mill in Mississippi, USA. Later renamed
Severstal Columbus.
- 2007 – Severstal acquires Celtic Resources, a gold mining company with a
number of assets in Kazakhstan. A Gold Mining segment is created within
Severstal Resources.
- 2006 – Severstal approves a new corporate governance system; incorporates
independent directors into its Board of Directors.
- 2006 – Severstal IPO on the London Stock Exchange.
- 2006 – Consolidation of a number of steel and mining companies into OAO
Severstal.
- 2006 – Beginning of operations at Izhora Pipe Mill in Leningrad region,
Russia.
- 2006 – Acquisition of Lucchini Group, an integrated steel-making facility
based in Italy and France.
- 2005 – Severstal stock is listed on MICEX.
- 2004 – Severstal acquires Rouge Steel, an integrated steel-making facility
based in Michigan, USA. The company is later renamed Severstal Dearborn.
- 2004 – Severstal issued its first Eurobond, and gained international
recognition as a reliable public debt borrower.
- 2003 – Acquisition of Vorkutaugol comprising several mines and coking coal
production and beneficiation plants in the Republic of Komi, Russia.
- 2003 – Acquisition of the controlling stake in Kuzbassugol with a number of
coking plant mines in Kemerovo Region, Russia (the mines are divested in
2008).
- 2000 – Acquisition of the controlling stake in Olenegorsk Mining and
Processing Integrated Works, specializing in the extraction of iron ore and
production of iron ore concentrate (Murmansk Region, Russia).
- 1995 – Severstal stock is listed on RTS.
- 1994 – Acquisition of Karelian Pellet, an iron ore pellet manufacturer
based in the Republic of Karelia, Russia.
- 1994−1999 – Acquisition of the controlling stake in Karelian Pellet, an
iron ore pellet manufacturer based in the Republic of Karelia, Russia.
- 1993 – Cherepovets Steel Mill registered as Open Joint Stock Company
Severstal.
- 1955 – The first Cherepovets cast iron is produced. August 24, 1955, is
considered the birthday of Cherepovets Steel Mill.
- 1947 – Construction of Cherepovets Steel Mill in Vologda Region, Russia, is
renewed.
- 1940 – Decree of the Government of the USSR On Organization of
Metallurgical Base in the North - West of the USSR overlooking construction of
a metal-working plant in Cherepovets.
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