Severstal Company History Timeline

1940
1940 A Soviet resolution calls for the creation of a steel mill at Cherepovets.
1955
August 24, 1955 first cast-iron produced at blast furnace 1 Cherepovets steel mill is born.
1956
1956 Launch of blast furnace 2.
1956 Production start-up of Cherepovets coke plant.
1958
The first steel ingot was cast on May 1, 1958.
1958 First ingot of open hearth crude steel produced.
1959
In 1959 rolling mills began processing semi-finished steel into finished sheets.
1962
1962 Launch of blast furnace 3.
1963
In 1963 the mill produced its first cold-rolled steel, allowing for secondary finishing after the hot-rolling mill.
1965
The first twin-hearth furnace in the USSR was put into operation in 1965.
1972
A section bending mill began operation in 1972.
1975
1975 Hot rolling mill 200 commissioned.
1979
The 100 millionth metric ton of steel was produced at Cherepovets in 1979.
1980
1980 first steel converter produced.
1980 An oxygen converter begins producing steel as part of a plan to replace inefficient open-hearth furnaces.
1983
In 1983 the Cherepovets Steel Mill was reorganized into the Cherepovets Iron and Steel Complex in recognition of the complex nature of its operations.
1986
In April 1986 the Severyanka blast furnace No.
1989
But in late 1989 a month-long strike at the Vorkuta coal mine, which had been established to exploit the Pechora coal, nearly depleted the steel mill's coal reserves and held back production.
1992
Aleksey Mordashov became finance director at the Cherepovets mill in 1992 and set about trying to develop an efficient cash flow system.
1993
1993 Cherepovets steel mill registered as Severstal Joint Stock Company in Cherepovets city hall.
1994
1994 Acquisition of the Karelskiy Okatysh ore mines.
1995
1995 Acquisition of Olenegorskiy mining processing plant.
1996
In 1996 output increased for the first time since the transition, reaching 7.4 million metric tons of finished steel.
1996 Alexey Mordashov becomes general director and implements reforms at Severstal.
1999
1999 Acquisition of Karelsky okatysh.
2000
In 2000 Severstal expanded into new markets through acquisitions.
2001
2001 Acquisition of Olkon.
Severstal's restructuring became even more extensive in late 2001 when the company's activities were divided into three major divisions steel production, raw materials, and the automotive industry.
2002
Severstal signed an agreement with Arcelor S.A. in April 2002 for the joint production of galvanized steel.
But production remained steady and the company returned to profitable operation when steel prices rose in 2002.
2003
The company also bid on the Hungarian steel mill Dunaferr, but in December 2003 it transferred its attention to the bankrupt United States firm Rouge Industries, Inc., parent of Michigan-based Rouge Steel Co.
2003 Acquisition of Vorkutaugol.
2004
2004 Acquisition of Rouge Steel, later renamed Severstal Dearborn.
2004 Rouge Steel was the former steel plant of the Ford Motor Company in Dearborn Michigan which had been in Chapter 11 bankruptcy.
2005
2005 Wheeling-Pitts JV for 1 mt yr coke plant at Follansbee, WV. 2005 Additional 7.9 equity in Lucchini purchased for 61m.
2005 Prior to the acquisition by Severstal of a majority stake, Lucchini had been active in Central Europe and had acquired and modernised the Warszawa minimill, the first major steel investment in a former Comecon country by an EU producer.
2006
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 Acquires 60 ownership in Dneprometiz for US 33 million.
2008
2008 Acquisition of PBS Coals Corporation.
2008 Severstal Internatnl formed from N Am European assets.
2010
2010 Launch of Severstal TPZ Sheksna.
In 2010, Severstal acquired all the shares of Gruppo Lucchini from Lucchini family and became the only shareholder of the company.
Abinsk Electric Steel Works LTD ASW was founded in 2010, when it became the first ferrous metallurgy business in the Kuban region of Russia.
2011
2011 Sale of three US assets Severstal Warren, Severstal Wheeling and Severstal Sparrows Point .
2011 Investment in new colour-coating line in Cherepovets.
2012
2012 Amapa iron ore reserves are thought to comprise 0.5-1.5 billion tonnes of magnetite with 40 Fe content.
2012 Battle over control erupts with India's NMDC for proposed greenfield steel plant in Karnataka.
2013
2013 Severstal Distribution established.
2013 Severstal cancels NMDC jv for new steel plant in India.
2014
2014 Launch of Balakovo mini-mill.
2014 Sale of Severstal Dearborn, Severstal Columbus and PBS Coals.
2015
2015 Announces that CEO Mordashov is to step down.
2016
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
2017 Launch of Severstal s online sales platform.
2017 acquisition of Yakovlevsky mine.
2018
2018 Severstal, ROSNANO and Windar Renovables create a joint venture to produce wind turbine towers.
2018 Severstal announces updated Company strategy, aimed at further strengthening financial performance, maximising value creation and enhancing shareholder returns.
Producing 12 million tonnes of crude steel, Severstal ranked as the 34 steelmaker in the world in 2018.
2019
2019 Severstal and Tenaris announce a joint venture to build a welded pipe plant to produce OCTG products in the Surgut area.
2020
2020 Sets up Severstal Tenaris welded pipe joint venture.
2020 Ponders purchase of Liskimontazhconstruktsia steel pipe.
2020 Ramps up IT and digital investments.
Plant construction was expected to start at the end of year 2020.
Founded
1940
Company Founded

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