SeverCorr ‘squeeze out’ could hit four managers sources

Dec 27, 2007 | 07:55 AM |

The New Year appears set to herald a bang for SeverCorr LLC, Columbus, Miss., with ongoing negotiations that will likely result in management changes due to be finalized shortly after Jan. 1, according to industry sources.

The talks between the mill's current management team, led by John Correnti, and management at major shareholder JSC Severstal, Cherepovets, Russia, remain at a sensitive stage but have slowed somewhat, in part due to the holiday season, a SeverCorr spokesman said.

"This would suggest that nothing will happen until after Jan. 1," the spokesman said. "Something could be announced as soon as Jan. 3, but it might not be until Jan. 15."....





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