Metals and Mining
Company Overview of Severstal Dearborn, Inc.
Severstal Dearborn, Inc., a steelmaking company, engages in the production and sale of flat-rolled carbon steel products. The company offers a range of hot-rolled, cold-rolled, hot-dipped galvanized and galvannealed, and culvert sheet steel products. Its products are used in automobile, pipe and tubing, distribution, construction, appliance, rail transportation, tank fabrication, ceiling grids, grain systems, containers, machinery, and other steel consuming markets. The company was founded in 2004 and is based in Dearborn, Michigan. It has plant locations in Michigan and Mississippi; and joint venture locations in West Virginia and Michigan. Severstal Dearborn, Inc. was a former subsidiary o...
14661 Rotunda Drive
P.O. Box 1699
Dearborn, MI 48120-1699
Founded in 2004
Key Executives for Severstal Dearborn, Inc.
Chief Executive Officer of OAO Severstal
Vice President, General Counsel, Secretary and Director
Compensation as of Fiscal Year 2014.
Severstal Dearborn, Inc. Key Developments
Severstal International Reports Earnings Results for the Second Quarter and Six Months Ended June 30, 2014
Jul 30 14
Severstal International reported earnings results for the second quarter and six months ended June 30, 2014. For the quarter, revenue was $1,066 million against $1,016 million for the first quarter of 2014. EBITDA was $100 million against $75 million for the first quarter of 2014. Revenue was driven by higher sales volumes. EBITDA was 33.3% higher primarily reflecting improvements at Dearborn's operations as well as seasonally softer comparatives in the first quarter of 2014.
For the six months, revenue was $2,082 million against $1,883 million last year. EBITDA was $175 million against $94 million last year. Revenue was also up, on better pricing and higher utilization rates.
Severstal North America Reports Production Results for the Second Quarter and First Half of 2014
Jul 14 14
Severstal North America reported production results for the second quarter and first half of 2014. For the quarter, crude steel production was 1.31 million tonnes against 2.22 million tonnes for the first quarter of 2014. Sales were 1.25 million tonnes against 1.18 million tonnes for the first quarter of 2014.
For the first half of 2014, crude steel production was 2.53 million tonnes against 2.46 million tonnes last year. Sales were 2.44 million tonnes against 2.28 million tonnes last year.
CSN Eyeing Severstal North America Assets
Jun 27 14
Companhia Siderurgica Nacional (BOVESPA:CSNA3) (CSN) is interested in acquiring stake in Open Joint-Stock Company Severstal’s (MICEX:CHMF) Severstal Dearborn, Inc. (Severstal North America). CSN is taking part in a bidding process for Severstal's US operations. CSN's Board stated, “As part of this process, evaluations and studies related to the feasibility of referred operation are in progress, aiming at a potential submission of an indicative acquisition proposal.” Severstal North America is expected to bring in approximately $1.5 billion. United States Steel Corp. (NYSE:X) is also reported to be interested in North America's operations, eyeing its Dearborn, Michigan asset.
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