Ukrianian court puts on hold lawsuit against ban on Russian social networksWorld May 28, 6:10
Russia’s Lasitskene wins high jump in Diamond League event in Eugene, USSport May 28, 4:59
Havana Airport gets Russian-made air traffic control systemsWorld May 28, 4:16
Guests of FIFA 2018 World Cup sure to get warm welcome in Russia — LavrovSport May 28, 2:25
Kantemir Balagov’s "Closeness" gets Cannes Festival’s International Critics’ PrizeSociety & Culture May 28, 1:03
Anti-church laws in Ukraine may cause religious strife — Ukrainian Orthodox ChurchWorld May 28, 0:22
Russia’s national football team absolutely clear of doping — doctorSport May 28, 0:14
Russian cyclist Zakarin finishes second in Giro d’Italia Stage 20Sport May 27, 22:27
Putin, Erdogan agree to develop coordination of efforts for settlement in SyriaRussian Politics & Diplomacy May 27, 19:29
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.