Severstal sues Mechel over settlement

May 13, 2014 | 04:19 PM | Michael Cowden

Tags  Severstal, Severstal North America, Mechel, Mechel Bluestone, settlement, supply agreement, alleged breach, coal steel

CHICAGO — Russian metal and mining companies OAO Severstal and OAO Mechel will square off in court over allegations by Severstal that Mechel failed to make a payment related to a confidential settlement and breached a coal supply agreement.

The Dearborn, Mich.-based steelmaking subsidiary of Moscow-based Severstal is seeking $10 million, according to documents filed in U.S. District Court in Illinois.....

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