Severstal OAO history, profile and corporate video
Severstal OAO engages in the manufacture of steel and rolled products. It operates through the following segments: Steel Resources, Russian Steel, Severstal North America. The Steel Resources segment comprises two iron ore complexes, Karelsky Okatysh and Olkon in nothwest Russia, and two coal mining complexes, Vorkutaugol in northwest Russia and PBS Coals Limited located in the USA. The Russian Steel segment consists primarily of the steel production and a high-grade automotive galvanizing facilities, rolling mill, metalware plants located in Russia, Ukraine and Italy, also a ferrous scrap metal recycling business, as well as various worldwide supporting functions for trading, maintenance and transportation. The Severstal North America segment includes integrated iron and steel mill, and a mini-mill in the southeast of the USA. The company was founded on August 24, 1955 and is headquartered in Cherepovets, Russia.“
“Severstal History
During the early 1930s, deposits of iron ore were discovered on the Kola Peninsula and, at about the same time large quantities ofcoal were discovered in the area of Pechora. These two factors made it possible to establish a viable steel industry in the northwest of Russia. In 1940 the Soviet government published a resolution “On The Organisation of Steel Making in the North-West of the USSR“, which created a steel mill in Cherepovets, a city accessible by both the St Petersburg-Ekaterinburg railway and by the Volga-Baltic waterway.
Facility construction accelerated after the end of the war, and at 3:25 PM on 24 August 1955, the Cherepovets steel mill was born. Development continued in the following decades, making Cherepovets a major centre of steel production in the Soviet Union.
On 24 September 1993 a decree by Russian President Boris Yeltsin, transformed the state-owned Cherepovets Iron and Steel Complex into the Severstal open joint-stockcompany.
A highly publicised attempt to merge Severstal with the French conglomerate Arcelor did not materialise and Arcelor instead merged with Mittal Steel on 25 June 2006 to createArcelor Mittal.
In 2005 the Russian steel and mining company Severstal became the majority shareholder (approx 60%) of Gruppo Lucchini, the remainder being owned by Lucchini Family (30%) and other minor shareholders.
In 2010, Severstal acquired all the shares of Gruppo Lucchini from Lucchini family and became the only shareholder of the company.
The Vorkutinskaya mine, in the Komi region of northern Russia belonging to Severstal, experienced an explosion at 10:28 a.m. local time (0628 GMT) on 11 February 2013 that caused the mine to collapse on a team of 22 people. Nine men are dead and 8 are still missing according to the interior ministry. A total of 18 people lost their lives in the accident.”
*Information from Forbes.com and Wikipedia.org
**Video published on YouTube by “SeverstalNANews“