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7 May 2009 17:00
OAO Severstal announces operational changes at its North American facilities
OAO Severstal (LSE: SVST; RTS: CHMF) today announced that as a result of the continued deterioration of economic conditions and a further decline in customer orders, it will be making the following operational changes at its North American facilities:
The steelmaking and hot rolling operations at Severstal Wheeling Inc. will remain idled. In addition, the cold rolling and coating operations at Wheeling will also be temporarily idled in the coming weeks while the Company balances production with orders across its business.
Severstal announced on February 27, 2009 the temporary cessation of operations of the steel galvanizing line at its Severstal Warren Inc. facility. Further to that announcement, all production and finishing operations at Warren will be idled indefinitely until there is an improvement in market conditions.
For further information:
Severstal
Dmitry Druzhinin, Investor Relations
Olga Antonova, Public Relations
+7 495 926 7766
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