OAO Severstal brings its share in sales asset to 100%

A block of shares representing 15.84% of the JSC Severstallat, which owns assets in Latvia and Poland ("Severstallat Silesia"), was purchased from the company SIA "Holdinga Kompanija FELIX" by OAO Severstal bringing its share in the asset to 100%.

According to Chairman of the Board of JSC Severstallat, Sales and Marketing Director of Division "Severstal Russian Steel", Dmitry Goroshkov, the decision is logical due to the focus of Division "Severstal Russian Steel" on the markets of Russia and the Baltic countries. "We continue to develop this sales direction, because we see its prospects," – said Dmitry Gorshkov.

ОАО Severstal is one of the world’s leading vertically integrated steel and steel related mining companies, with assets in Russia and the USA, in Ukraine, Latvia, Poland, Italy, Liberia and Brazil. Severstal’s gold business, Nordgold was established in 2007 and comprises mines and exploration projects in Russia, Kazakhstan, Burkina Faso and Guinea. Severstal is listed on MICEX and the company’s GDRs are traded on the LSE. Severstal reported revenue of $13,573 million and EBITDA of $3,263 million in 2010. Severstal’s crude steel production in 2010 reached 14.7 million tonnes.