SVST.L Regulatory News (SVST)

27 Feb 2009 13:39



OAO Severstal today announced the temporary cessation of operations of the steel galvanizing line at its Severstal Warren facility.

"OAO Severstal today announced the temporary cessation of operations of the steel galvanizing line at its Severstal Warren facility. Both the galvanizing line and the mill, which has been offline since October, will remain inoperative while the company balances production volume to match current demand. This decision has been taken to ensure that the company continues to carefully manage its operational and capital costs in the global economic downturn. Severstal will continue to review its production needs during rapidly changing market conditions and will make adjustments as necessary."

ОАО Severstal

Investor Relations

Dmitry Druzhinin

+7 495 926 77 66

Public Relations

Olga Antonova

+7 495 926 77 66

Taylor Rafferty

Michael Henson

+1 212 889 43 50