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severstal (CHMF) Details

Open Joint-Stock Company Severstal operates as an integrated steel and steel related mining company worldwide. It operates through Severstal Resources, Severstal Russian Steel, and Severstal International divisions. The Severstal Resources division mines iron ore and coking coal in the Russian Federation, and operates a coking coal complex in the United States. The Severstal Russian Steel division produces hot and cold-rolled flat and long steel products, and galvanized and color-coated steel products for construction, automotive, machinery, and electrical industries; and steel sections and automotive systems, as well as manufactures and repairs energy equipment. This division also offers diameter pipes from plate electric-welded pipes, and low-carbon and high-carbon wire rods, nails, cold-drawn steel, steel ropes, and netting and fastenings; as well as provides construction and equipment assembly services. The Severstal International division operates integrated iron and steel mills, as well as a mini-mill that produces steel products for the automotive, appliance, construction, container, pipe and tubing, distribution, converter and service centre industries. This division also offers steel solutions, such as ceiling grids, grain systems, HVAC equipment, machinery, metal buildings, and water heaters. The company was founded in 1955 and is based in Cherepovets, the Russian Federation.

Founded in 1955

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severstal (CHMF) Key Developments

Severstal OAO (the Vologda Region) Signs Rub 7.7 Billion Supply Agreement with Izhorsky Tube Plant

Severstal OAO (the Vologda region) signed an interested-party deal, an agreement for supply of steel products with Izhorsky Tube Plant ZAO (the buyer). Term of the dealis through June 30, 2015, with the deal value of RUB 7.7 billion.

Severstal Announces Earnings Results for the Second Quarter and First Half of 2014

Severstal announced earnings results for the second quarter and first half of 2014. For the quarter, the company posted a net loss of $661 million. The company posted a net loss of $761 million for the first half of 2014.

OAO Severstal Approves Dividend for the First Six Months of the Financial Year to June 2014, Payable on September 22, 2014

.OAO Severstal extraordinary general meeting held on September 10, 2014. Shareholders approved the payment of a dividend of RUB 2.14 per share for the first six months of the financial year to June 2014. The record date for dividend payment for the first six months of 2014 is September 22, 2014.


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