Severstal planning to invest $976M in 2014

Feb 06, 2014 | 06:14 PM | Catherine Ngai

Tags  Severstal, steel, operational improvements, capital expenditures, Alexey Kulichenko, Dearborn, Columbus, Catherine Ngai

NEW YORK — Russian steelmaker OAO Severstal plans to invest some $976 million across its global divisions in 2014 to support the company’s development strategies and long-term competitiveness, the company said Feb. 6.

"Severstal maintains a prudent approach to capital expenditure, which is flexible to market conditions and determines that we invest only in development projects that meet our strict criteria on returns," Severstal chief financial officer Alexey Kulichenko said in a statement.....

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