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Severstal still bullish on North America

Jun 17, 2014 | 03:17 PM | Thorsten Schier

Tags  Severstal, steel, North America, Alexey Kulichenko, Steel Success Strategies, Thorsten Schier


NEW YORK — Russian steelmaker OAO Severstal remains bullish on the North American market and the prospects for its domestic assets despite the possible sale of its facilities in Dearborn, Mich., and Columbus, Miss.

"We see very strong and good performance from our U.S. assets today, and I want to use this opportunity to say ‘thank you’ to the team, which has done a great job in the last year, and also that the outlook for the market looks very promising," chief financial officer Alexey Kulichenko said during AMM’s Steel Success Strategies XXIX conference in New York.

"At the same, we are much more focused on value creation for shareholders at the moment and we see very strong interest, but we haven’t made a final decision yet so we will of course see what will come, (but) I cannot say that something has been finalized," he said.

Responding to an audience question, Kulichenko said that the possible sale was not prompted by any concerns about the long-term viability of the company’s Dearborn plant. "We see very good potential for all assets we have in the Severstal North America (Inc.) division, and I do not have any specific concerns," he said.

The bidding process for the Moscow-based steelmaker’s North American assets kicked off recently following months of rumors regarding a potential sale (amm.com, May 12).




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