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Severstal history
Severstal company history timeline
In the spring of 2004 Severstal also declared an interest in the Czech state-owned steel mill Vitkovice and secured Citigroup as an adviser for this investment.
2004 – Acquisition of Rouge Steel, later renamed Severstal Dearborn.
2004 – Severstal Metiz established.
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.
2005: Formation of Severstal Columbus, also known as Severcorr.
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.
2006 – Severstal lists its GDRs on the London Stock Exchange.
2006 – Launch of Izhora pipe mill.
2006: Purchase of 100% of UK wire firm CWL for GBP 14.2m.
2006: Acquires 60% ownership in Dneprometiz for US$ 33 million.
2008 – Acquisition of PBS Coals Corporation.
2008: Severstal structure modified with the creation of three divisions: Severstal Russian Steel, Severstal Resources & Severstal International.
In 2010, Severstal acquired all the shares of Gruppo Lucchini from Lucchini family and became the only shareholder of the company.
2010 – Launch of Severstal TPZ Sheksna.
In 2010, Severstal decided that CWL was no longer viable and closed the business down.
2011 – Sale of three US assets (Severstal Warren, Severstal Wheeling and Severstal Sparrows Point).
2011: Investment in new colour-coating line in Cherepovets.
2012: New Air Liquide air separation unit at Cherepovets site.
2012: Battle over control erupts with India's NMDC for proposed greenfield steel plant in Karnataka.
2013: Severstal joint venture with NMDC [India's largest iron-ore producer] for new Karnataka steel mill cancelled August 2013 because of 'difficult business conditions'.
2013 – Severstal Distribution established.
2013: Severstal cancels NMDC jv for new steel plant in India.
2014 – Launch of Balakovo mini-mill.
2015: Announces that CEO Mordashov is to step down.
2016: Restarts modernised Cherepovets 4-stand cold rolling mill.
Putu's closure in early 2016 is understood to have been caused by a number of factors, including the low level of iron ore prices.
2017 – acquisition of Yakovlevsky mine.
2017 – Severstal Digital established to implement Company’s digital strategy.
2017 – Severstal develops the biggest data lake in Russian industry.
2018 – Severstal announces updated Company strategy, aimed at further strengthening financial performance, maximising value creation and enhancing shareholder returns.
2019 – Severstal and Tenaris announce a joint venture to build a welded pipe plant to produce OCTG products in the Surgut area.
2020: Ramps up IT and digital investments.
2020: Ponders purchase of Liskimontazhconstruktsia steel pipe.
2020: Welded pipe jv with Tenaris is for production of ~300 kt / year of pipe at a greenfield location in Yugra, Russia.
2021: In April 2021, Severstal took a 20% stake in the Nizhne-Volzhsky Pipe Plant (NVTZ), a large pipe enterprise located in Volzhsky in the south of Russia.
2021: Acquires 20% stake in Russian construction pipe plant.
2021: Agrees with Russkaya Energiya to sell coal asset Vorkutaugol.
2022: Four board-level resignations to take place in March 2022 because of the geopolitical situation included Sakari Tamminen, Philip Dayer and Aline Bowen, as well as Agnes Ritter.
2022: US imposes sanctions against Severstal and Alexey Mordashov.
2022: Olenegorsky GOK is controlled by Severstal - it also operates five open-pit mines and one underground iron ore mine.
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Severstal competitors
| Company name | Founded date | Revenue | Employee size | Job openings |
|---|---|---|---|---|
| Revere Copper Products | 1801 | $70.0M | 600 | 15 |
| Constellium Rolled Products Ravenswood, LLC | 1957 | $560.0M | 1,100 | - |
| RG Steel Warren LLC | 1912 | $9.2M | 50 | - |
| Big River Steel | 2014 | $13.0M | 286 | 22 |
| Welspun Group | 2007 | $3.5B | 25,812 | - |
| Indium | 1934 | $930.0M | 3,000 | 2 |
| Zinc Corp Of America | 1987 | $2.2M | 15 | 1 |
| Wise Alloys LLC | 1998 | $8.6M | 50 | - |
| Paulo | 1943 | $61.0M | 350 | 18 |
| Searles Valley Minerals | 1998 | $370.0M | 648 | - |
Severstal history FAQs
Zippia gives an in-depth look into the details of Severstal, including salaries, political affiliations, employee data, and more, in order to inform job seekers about Severstal. The employee data is based on information from people who have self-reported their past or current employments at Severstal. The data on this page is also based on data sources collected from public and open data sources on the Internet and other locations, as well as proprietary data we licensed from other companies. Sources of data may include, but are not limited to, the BLS, company filings, estimates based on those filings, H1B filings, and other public and private datasets. While we have made attempts to ensure that the information displayed are correct, Zippia is not responsible for any errors or omissions or for the results obtained from the use of this information. None of the information on this page has been provided or approved by Severstal. The data presented on this page does not represent the view of Severstal and its employees or that of Zippia.
Severstal may also be known as or be related to Severstal, Severstal Dearborn, Severstal Dearborn Inc and Severstal Dearborn, Inc.