Severstal reports Q3 & 9M 2018 financial results

PAO Severstal (MICEX-RTS: CHMF; LSE: SVST), one of the world’s leading steel and steel-related mining companies, today announces its Q3 & 9M 2018 financial results for the period ended 30 September 2018. Q3 2018 vs. Q2 2018 ANALYSIS: Group revenue declined 8.7% q/q to $2,063 million (Q2 2018: $2,259 million) due to reduced sales volumes of steel products and iron ore pellets, which reflects the high-base effect of Q2, as well as declining steel prices q/q. Group EBITDA declined 12.1% q/q, to ...
19 October 2018., 14:41   comment

Severstal reports Q3 & 9M 2018 operational results

Severstal (MICEX-RTS: CHMF; LSE: SVST), one of the world’s leading vertically integrated steel and steel-related mining companies, today announces its operational results for Q3 & 9M 2018. Q3 2018 GROUP HIGHLIGHTS Hot metal output increased 2% in Q3 2018 to 2.30 mln tonnes (Q2 2018: 2.26 mln tonnes) compared with the previous quarter after short-term maintenance works at BF#4 and BF#5. Crude steel productionincreased 2% to 3.06 mln tonnes (Q2 2018: 3.00 mln tonnes) in line with pig iron production ...
10 December 2018., 15:22   comment

Agnes Ritter elected to Board of Directors

PAO Severstal (LSE: SVST;MICEX-RTS: CHMF), one the world’s largest vertically integrated steel and mining companies, announces the results of voting following an extraordinary general meeting of shareholders held on 14 September 2018. Severstal's shareholders approved the payment of a dividend of 45.94 rubles per share for the three months ended 30 June 2018. The record date for this dividend payment is 25 September 2018. At the EGM, Agnes Ritter, Technical Director of AO Severstal Management, ...
14 September 2018., 16:58   comment

Severstal, RUSNANO and Windar Renovables to manufacture wind turbine towers in Russia

PAO Severstal, RUSNANO and Windar Renovables have concluded an agreement to create a joint venture, WRS Bashni, LLC, to produce steel towers for wind-driven power plants (WDPP). The renewable energy products, which will be the first of their kind in Russia, will be built in the Rostov Region. The wind energy equipment will be installed as part of a government programme to develop and stimulate the generation of renewable energy sources in Russia (RES). During the first stage, total investment ...
14 September 2018., 16:41   comment

Severstal becomes Russia’s first manufacturer of damping steel

PJSC Severstal, one of the world's leading vertically integrated steel and mining companies, presented a new vibration and sound absorbing damping steel, 01U5T, during a techno-breakfast organized by the All-Russian Society of Inventors and Innovators (ARSII). The event attracted entrepreneurs and investors focused on innovative industries as well as industry representatives keen to discuss product and technology innovation. Severstal specialists presented samples of the new product, demonstrating ...
09 July 2018., 16:27   comment

Severstal will cut emissions with its reconstruction of coke oven battery No. 4

PJSC Severstal, one of the world's leading vertically integrated steel and mining companies, will reduce its emissions to the atmosphere by almost 700 tons per year during the reconstruction of coke oven battery No. 4 (KB-4) at the Cherepovets Metallurgical Plant (CherMK). The project, with a total cost of approximately 6 billion rubles, will significantly reduce the coke oven battery’s environmental load. While increasing annual coke production from battery No. 4 from 420 to 460 thousand tons, ...
28 August 2018., 10:39   comment

Vorkutaugol launches low-ash concentrate

AO Vorkutaugol, one of Russia’s largest coal mining companies, a subsidiary of Severstal, has successfully completed an experiment at Pechorskaya Concentrating Mill to improve the quality of its coal concentrate. The improved finished product is already being shipped to Cherepovets Steel Mill (CherMK). The potential financial benefit of this project is estimated at 1 billion roubles per year. The project to reduce the ash content in coal concentrate was launched by the Mill’s expert team in ...
08 January 2018., 14:44   comment

Smartphones to be used in underground

AO Vorkutaugol, one of the largest coal mining companies in Russia and part of PAO Severstal, has purchased special spark-proof smartphones to perform mining equipment diagnostics and workplace safety audits. Prior to entering the mine, the wireman opens the Mobile Equipment Maintenance and Repair (EMR) application on the smartphone, logs into the system and enters the workplace. Once underground, the phone transmits to special readers installed in the mines near mechanisms and aggregates. When ...
07 September 2018., 12:40   comment

Severstal supplies 40 thousand tons of steel for Fifa World Cup 2018 stadiums

PAO Severstal, one of the largest vertically integrated steel and mining companies in the world, supplied approximately 40 thousand tons of rolled steel for the construction of the 12 stadiums that will host World Cup matches in 2018. Flat steel and reinforcing bars were supplied from Severstal’s production site in Cherepovets and the Balakova Mini-Mill (part of Severstal’s Russian Steel division). Steel products were delivered directly to the stadium construction sites via the Company’s distribution ...
18 June 2018., 16:40   comment

Severstal begins supply of unique cryogenic steel for new LNG production and storage facilities

PAO Severstal, one of the world's leading vertically integrated steel and mining companies, is pleased to announce that it has begun the supply of construction elements for a liquefied natural gas (LNG) storage facility made of cryogenic low-carbon steel with a 9% nickel content. The products will be used in the construction of a LNG plant which Gazprom is building in Portovaya, in the Leningrad Region. The first 60-ton product batch has already been delivered to the customer. Within the agreement, ...
06 August 2018., 17:29   comment

Alexey Mordashov introduced prospects of business cooperation between the countries of the Northern Dimension region

Alexey Mordashov, Chairman of PAO Severstal, chaired the IX Northern Dimension Forum, which was held on 5 April 2018 in Saint-Petersburg. More than 200 delegates attended the event. The aim of the forum was to boost cooperation between the authorities, business and civil society in the participating countries of the Northern Dimension. This year's focus was on the new economical mindset: innovative management models and business processes. Alexey Mordashov on behalf of the members of the Northern ...
04 September 2018., 12:10   comment

Severstal announces 2018 capital investment programme

PAO Severstal ("Severstal"; "the Company"), one of the world’s leading vertically integrated steel and steel-related mining companies, today announces its capital investment programme for 2018. Severstal plans to invest approximately 49.5 billion rubles in 2018, focusing on the key areas of the Company’s strategy. This investment will primarily be aimed at further reduction of costs, increasing the production of high-value added products and further improving customer care. As previously announced, ...
02 February 2018., 14:49   comment

Severstal reports Q4 & FY 2017 operational results

Severstal (MICEX-RTS: CHMF; LSE: SVST), one of the world’s leading vertically integrated steel and steel-related mining companies, today announces its operational results for Q4 2017 & FY 2017. Q4 2017 GROUP HIGHLIGHTS • Hot metal output increased 5% to 2.34 mln tonnes (Q3 2017: 2.23 mln tonnes) compared with the previous quarter, and crude steel production was up 2% at 3.01 mln tonnes (Q3 2017: 2.94 mln tonnes). • Consolidated steel product sales declined 2% to 2.78 mln tonnes compared with ...
26 January 2018., 15:10   comment

Severstal launches major new production line for polymer coated rolled steel products at Cherepovets Steel Mill

PAO Severstal, one of the world's leading vertically integrated steelmaking and mining companies, has launched a production line for polymer coated rolled steel products at Cherepovets Steel Mill Metal Coating Workshop number 3 (“MCW#3”). The launch ceremony was attended by Alexey Mordashov, Chairman of Severstal’s board of directors, Alexander Shevelev, CEO of Severstal, Oleg Kuvshinnikov, Governor of the Vologda region, Andrey Lutsenko, Chairman of the Legislative Assembly of the Vologda region, ...
01 December 2018., 11:58   comment

Alexey Mordashov, Chairman of the Board of Directors, visited the Yakovlevsky mine and granted approval for the development plan of the plant

Alexey Mordashov, the Chairman of the Board of Directors of PAO “Severstal” and the Company’s leadership team visited production departments of the Yakovlevsky mine, and approved next year’s business plan , while meeting employees of the plant. The Chairman and leadership team visited the central control room from where the production management islocated, as well as the new main ventilation system, the headframe No. 1 and the crushing and sizing plant. The business plan of the plant includes ...
25 December 2017., 14:56   comment

Severstal announces sale of Dneprometiz

Severstal announces that its subsidiary Cambay Services Ltd has completed the sale of its wholly-owned subsidiary Dealzone Holding Ltd which holds the 98.6% stake in Dneprometiz. Located in Dnepr, Dneprometiz is a Ukrainian business and former subsidiary of Severstal-metiz, the group of companies which unites Severstal’s metalware assets. The sale of Dneprometiz will result in greater efficiency improvements at Severstal-metiz and will further enhance the profitability of the Severstal group. ...
27 October 2017., 12:00   comment

Alexey Mordashov reelected as member of World Steel Association executive committee

The Board of Directors of the World Steel Association (Worldsteel) has elected Alexey Mordashov, Chairman of PAO Severstal, one of the world’s leading vertically integrated steel and steel-related mining companies, as a member of the association’s 2017/2018 executive committee at Worldsteel’s 51th General Assembly in Brussels, Belgium. Alexey Mordashov is the only Russian representative in Worldsteel’s executive body. The World Steel Association is one of the largest and fastest-growing global ...
20 October 2017., 13:00   comment