Home  >  About  >  Company Profile

Mission, Vision, ValuesManagement TeamCode of Business Conduct

Company Profile

ОАО Severstal is one of the world’s leading vertically integrated steel and steel related mining companies, with assets in Russia and the USA, in Ukraine, Latvia, Poland, Italy, Liberia and Brazil. Severstal’s gold business, Nordgold was established in 2007 and comprises mines and exploration projects in Russia, Kazakhstan, Burkina Faso and Guinea.

Severstal is listed on RTS and MICEX and the company’s GDRs are traded on the LSE. Severstal reported revenue of $13,573 million and EBITDA of $3,263 million in 2010. Severstal’s crude steel production in 2010 reached 14.7 million tonnes.

The company has 3 divisions:

• Severstal Russian Steel
• Severstal International
• Severstal Resources

Events

• 2010 - Severstal efficiently capitalized on the improving market conditions. Revenue for the year increased by 41.5% to US$13,573 million as a result of increased sales growth in each of our segments. EBITDA reached 3,263 million in 2010 increased by 105.3%.
• 2010 - Severstal launched a joint venture stamping facility with Gestamp and joint venture steel service center with Gonvarri – both in Kaluga region, several hundred km from Moscow.    
• 2010 - A renovated HDG line is launched in Cherepovets adding 400,000 tonnes of new galvanizing capacity.
• 2010 - Severstal consolidated its gold business under Nordgold, which became an established pure-play gold producer focused on emerging markets.
• 2010 - Severstal launced TPZ Sheksna with 250,000 tonnes of welded tubes and profiles for construction.
• 2010 - Following the development of the Mission, Vision and Values of Severstal in 2009, Severstal made another step forward towards internal efficiency. Company worked out a set of principles and tools named the Business System of Severstal implanting desired behavior models among the employees and, as a consequence, enable cultural transformation of Severstal, as well as achievement of the company’s strategic goals.
• 2010 - In North America, the Group sold Northern Steel Group, the processor and distributor of steel products.
• 2010 - Severstal announced its plans to sell steelmaking facilities of Warren, OH, Wheeling, WV, and Sparrows Point, MD.
• 2010 - In Europe, the Group reduced its stake in Lucchini S.p. A. to 49.2%
• 2010 - The Group acquired a 16.5% stake in Core Mining which controls exploration licences for the Avima iron ore deposit in the Republic of Congo (Brazzaville) and the Kango iron ore deposit in the Republic of Gabon.
• 2010 - The Group acquired an exploration and development license for the Tsentralnyi field in Tyva republic, South Siberia, with a resource potential of 640 million tonnes of high-quality hard coking coal.
• 2010 - Severstal completed the acquisition of a 25.6% stake in Iron Mineral Beneficiation Services (Proprietary) Limited (IMBS), a research and development company based in Johannesburg, South Africa. IMBS has developed a coal-based Finesmelt technology capable of processing unusable iron ore fines and thermal coal into valuable metallic products similar to DRI/HBI.
• 2010 - Severstal and NMDC, the leading iron ore producer in India and one of the major global suppliers of iron ore, signed a Memorandum of Understanding to establish a joint venture company to build an integrated steel plant, with a capacity between 2 and 5 million tonnes (to be determined at feasibility stage). The plant will be located in the state of Karnataka, close to the industrial heartland of southern and western India and close to multiple iron ore mines.
• 2010 -The Group acquired a 25.6% stake in Iron Mineral Beneficiation Services (Proprietary) Limited (IMBS) for a total consideration of US$ 7.5 million. IMBS is a research and development company based in Johannesburg, South Africa. IMBS has developed a coal-based Finesmelt technology capable of processing unusable iron ore fines and thermal coal into valuable metallic products similar to DRI/HBI. Currently IMBS is developing its first commercial project in Phalaborwa, South Africa.
• 2009 - Severstal introduces a new brand and mission, vision and values of the company and starts up the corporate culture transformation project.
• 2009 - According to Metal Bulletin ratings, Severstal remains the largest producer by volume among companies in the CIS.
• 2009 - Severstal announces strong financial results for 2008. Revenues and net profit increased by 44.4% and 9.9% respectively, year on year.
• 2008 - Severstal acquires African Iron Ore Group Ltd (AIOG) in western Africa. After the acquisition, AIOG changes its name to Severstal Liberia Iron Ore Ltd.
• 2008 - Severstal acquires a 53% stake in High River Gold, the owner of a number of plants and Buryatia and Amur Region and a gold mine in Burkina Faso (Africa). This deal makes Severstal Russia’s second-largest gold mining company.
• 2008 - Severstal acquires PBS Coals, a coking coal producer based in Pennsylvania, USA.
• 2008 - Severstal acquires Balazhal, an East Kazakhstan-based gold mining company.
• 2008 - Severstal acquires Esmark Incorporated based in West Virginia, later renamed Severstal Wheeling.
• 2008 - Severstal acquires WCI based in Ohio, USA. The company is later renamed Severstal Warren.
• 2008 - Reorganization of OAO Severstal. Three divisions are created: Severstal Russian Steel, Severstal Resources and Severstal International.
• 2008 - Severstal approves company-wide HSE corporate policy.
• 2008 – Severstal acquires Sparrows Point based in Maryland, USA. The company is later renamed Severstal Sparrows Point.
• 2007−2008 – Severstal acquires exploration and gold mining licenses for six fields in Irkutsk Region and Trans-Baikal Province.
• 2007 – Launch of SeverCorr mini-mill in Mississippi, USA. Later renamed Severstal Columbus.
• 2007 – Severstal acquires Celtic Resources, a gold mining company with a number of assets in Kazakhstan. A Gold Mining segment is created within Severstal Resources.
• 2006 – Severstal approves a new corporate governance system; incorporates independent directors into its Board of Directors.
• 2006 – Severstal IPO on the London Stock Exchange.
• 2006 – Consolidation of a number of steel and mining companies into OAO Severstal.
• 2006 – Beginning of operations at Izhora Pipe Mill in Leningrad region, Russia.
• 2006 – Acquisition of Lucchini Group, an integrated steel-making facility based in Italy and France.
• 2005 – Severstal stock is listed on MICEX.
• 2004 – Severstal acquires Rouge Steel, an integrated steel-making facility based in Michigan, USA. The company is later renamed Severstal Dearborn.
• 2004 – Severstal issued its first Eurobond, and gained international recognition as a reliable public debt borrower.
• 2003 – Acquisition of Vorkutaugol comprising several mines and coking coal production and beneficiation plants in the Republic of Komi, Russia.
• 2003 – Acquisition of the controlling stake in Kuzbassugol with a number of coking plant mines in Kemerovo Region, Russia (the mines are divested in 2008).
• 2000 – Acquisition of the controlling stake in Olenegorsk Mining and Processing Integrated Works, specializing in the extraction of iron ore and production of iron ore concentrate (Murmansk Region, Russia).
• 1995 – Severstal stock is listed on RTS.
• 1994 – Acquisition of Karelian Pellet, an iron ore pellet manufacturer based in the Republic of Karelia, Russia.
• 1994−1999 – Acquisition of the controlling stake in Karelian Pellet, an iron ore pellet manufacturer based in the Republic of Karelia, Russia.
• 1993 – Cherepovets Steel Mill registered as Open Joint Stock Company Severstal.
• 1955 – The first Cherepovets cast iron is produced. August 24, 1955, is considered the birthday of Cherepovets Steel Mill.
• 1947 – Construction of Cherepovets Steel Mill in Vologda Region, Russia, is renewed.
• 1940 – Decree of the Government of the USSR On Organization of Metallurgical Base in the North - West of the USSR overlooking construction of a metal-working plant in Cherepovets.