Steel Mills

Severstal Admits They Are Reviewing Options Regarding USA Assets

Written by John Packard

The following article was originally posted as a blog on the Steel Market Update (SMU) website: The Russian parent company to Severstal NA has responded to requests about the potential sale of their USA assets which include the Severstal Dearborn and Severstal Columbus flat rolled steel mills. Steel Market Update reported over the weekend that the two mills were for sale and that bidders such as CSN out of Brazil and US Steel here in North America had expressed interest in acquiring one, or more, of the USA based steel mills.

In response to all of the inquiries, Severstal out of Russia made the following statement:

Moscow, Russia, 14 May 2014 – Remaining fully committed to maximising value creation for its shareholders, OAO Severstal (LSE: SVST; MICEX-RTS: CHMF) announces that it is considering a range of strategic options in relation to Severstal North America. Severstal confirms that no decision has yet been taken as to which, if any, such option might be pursued.

Our understanding is the non-binding bids have been received by Severstal and they are analyzing those bids to determine what they wish to do next.

Latest in Steel Mills