PAO Severstal
OAO Severstal: Press Release
OAO Severstal / Key word(s): Miscellaneous OAO Severstal: Press Release 06.12.2010 / 14:20 Press Release Moscow, December 6, 2010. A continuous hot dip galvanizing line (HDG line) was officially commissioned in Metalсoating Shop #1 for cold-rolled mill products at the Cherepovets Steel Mill, part of Severstal Russian Steel Division. The commissioning ceremony was attended by Cherepovets' Mayor Oleg Kuvshinnikov, chief executive officer of Severstal Russian Steel Division and General Director of Cherepovets Steel Mill 'Severstal' Alexander Grubman. The renovation of the HDG line began on December 1, 2009 and was carried out as part of the investment project currently under way at the Cherepovets Steel Mill to increase the production of rolled metal products for the building industry. In 2010, investments aimed at expanding the range of products and increasing production for the construction industry will make up 3,625 million rubles, 800 million rubles more than last year. 'We are planning the new line to eventually produce 400 thousand tons of galvanized metal per annum, twice as much as did the old one,' Alexander Grubman said at the ceremony. 'This is a real contribution of our company to the development of civil and residential construction, including low-rise housing construction. In addition the products that come off this line will be delivered as blooms to color coating lines. The second color coating line, where equipment is currently being installed, is slated for commissioning in 2011. We believe this will help fully meet the requirements of the Olympic construction in Sochi, and also new facilities for the 2018 World Cup.' The new line includes a horizontal annealing furnace supplied by Thermline, a Foen galvanizing plant, and a VAI Clecim temper mill. The main production equipment is supplied by CMI. There is also a strip bending and stretching machine and an electrostatic strip-oiling apparatus, which makes the renovated HDG line fundamentally different from its predecessor. This equipment will make it possible to tailor high-quality galvanized rolled metal products to suit the Client's requirements and preferences. Severstal Russian Steel, OАО Severstal division, ranks among Russian steel majors. In the first nine months of 2010, its revenue amounted to USD 6,342 million, EBITDA to USD 1,271 million. In the first nine months, the Division enterprises were ranked as the most efficient producers in the world. The Division comprises six segments dealing respectively with steel, sales, metal goods, pipe, service, and scrap iron. For further information please contact: Severstal, Investor Relations Vladimir Zaluzhsky T: +7 (495) 926-77-66 vladimir.zaluzhsky@severstal.com Public Relations Maria Medvedeva T: +7 (495) 926-77-66 ext. 6536 maria.medvedeva@severstal.com Hudson Sandler Andrew Hayes/Andrew Leach/Maria Ignatova +44 (0)20 7796 4133 End of Corporate News 06.12.2010 Dissemination of a Corporate News, transmitted by DGAP - a company of EquityStory AG. The issuer is solely responsible for the content of this announcement. DGAP's Distribution Services include Regulatory Announcements, Financial/Corporate News and Press Releases. Media archive at www.dgap-medientreff.de and www.dgap.de --------------------------------------------------------------------- 105611 06.12.2010
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