During the telephone conference held on Thursday, recently appointed to the post of Director General of Severstal North America Saikat Day, said his company will focus on improving profits, and not on large acquisitions or other expensive projects.
The metallurgical capacities of Severstal in the United States are aimed at satisfying rapidly growing demand for sheet steel for automotive industry. According to the head of the company, the main obstacle to profit is an excessive offer of metal products in world markets.
“At the moment, we want it or not, 300 - 400 million tons of excesses have not come anywhere, but while the problem remains, we will solve it,” Day said. "Consolidation, reorganization, increase in labor productivity and wider opportunities in the future."
American Severstal will focus on profit, and not on mergers and acquisitions
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