CEO Alexei Mordashov said in an interview that Severstal is accepting bids for the acquisition of two North American metallurgical plants, but this does not mean that it will sell them. Mordashov said the Russian steelmaker is a small player in North America. Severstal has two factories in the United States in Dearborn and Columbus that are profitable.
Mordashov said: "Basically, there are two options: to develop production and stay or dispose of in such a way as to maximize the profit. We have invested a lot and reached the best standards in the United States."
Severstal employs about 1,800 people in Dearborn and about 700 in Mississippi. The Dearborn plant, built a century ago as part of the Henry Ford Rouge complex, is across the street from the Ford automobile plant.
The steel industry continues to struggle with overproduction: too many factories are operating in the face of current and future demand. Competition from low-cost imported steel and the tendency of automakers to achieve lighter weight is forcing them to use alternative metals such as aluminum, which is hurting demand in the United States
Severstal has at least two interested buyers, U.S. Steel and Brazil's Companhia Siderurgica Nacional. "We have not retreated from the United States. We have not yet decided to sell any of our assets," said Mordashov. "We intend to explore various options, but that does not mean that we are not solving anything."
Selling Severstal plants in the USA is only an option, not a solution
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Azovpromstal® 24 May 2014 г. 11:57 |
