Moscow hopes Kiev not to use protests at parliament for escalation in DonbassRussian Politics & Diplomacy October 18, 19:52
Russian journalist and TV host Ksenia Sobchak says she plans to run for presidentRussian Politics & Diplomacy October 18, 19:08
Mariinsky ballet troupe waltzes across America captivating US audiencesSociety & Culture October 18, 18:51
Gazprom says more than half of Power of Siberia pipeline readyBusiness & Economy October 18, 18:23
Ukraine's special forces storming tent camp outside parliamentWorld October 18, 18:18
Vibrant colors of Moscow's autumnSociety & Culture October 18, 18:16
Baltic Fleet ships enter North SeaMilitary & Defense October 18, 18:05
Russia not eyeing branding US media outlets undesirable organizations — prosecutorRussian Politics & Diplomacy October 18, 17:39
Russian and Swiss researchers to explore burial mound in SiberiaSociety & Culture October 18, 17:08
NOVO-OGAREVO (Moscow Region), January 19. /TASS/. The future of Severstal, Russia’s biggest steel producer, is tied to Russia, CEO Alexey Mordashov said on Monday during a meeting with President Vladimir Putin.
In 2014, Severstal increased production by 2%, and invested $492.3 million (32 billion rubles) into own production, Mordashov said. “All in all, we achieved rather decent figures, I can say, the world’s leading figures on such important indicators as output profitability, net debt level,” he added.
Mordashov also explained to the president why Severstal had got rid of its North American division and focused on the Russian assets. “We worked much abroad, but we came to the conclusion that in the first place our future is tied to Russia, to the Russian market, and our local production is the most effective,” CEO said, adding that this decision made the company’s operations more cost-efficient.
In September 2014, Russia-based Severstal finalized the sale of its two steel mills it operated in North America - Severstal Columbus and Severstal Dearborn, and the US-based coaking coal producer PBS. The company sold its another three American plants in 2011.
Severstal plants will continue operating in Russia, as well as in Ukraine, Latvia, Poland, Italy, Liberia and Brazil. Severstal is Russia’s second-biggest steel producer after Evraz.