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By Andrea K. Walker and Andrea K. Walker,Sun reporter | May 21, 2008
Russian steelmaker OAO Severstal, the new owner of Sparrows Point, submitted a $670 million offer yesterday for West Virginia steel company Esmark Inc., whose own bid to buy the Baltimore County steel mill collapsed in December. Severstal's bid comes just two weeks after it closed its $810 million purchase of Sparrows Point from ArcelorMittal and days after it agreed to buy an Ohio steelmaker. If successful, it would bring Sparrows Point and Esmark's money-losing Wheeling-Pittsburgh plant under the same corporate banner - a move Esmark had planned to make.
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By Timothy B. Wheeler, The Baltimore Sun | July 12, 2011
In a ruling that's left Dundalk-area residents shaking their heads, a federal court has declared that recent owners of the century-old steel-making complex at Sparrows Point can't be made to clean up past contamination of surrounding waters. U.S. District Court Judge J. Frederick Motz ruled that under the terms of a 2003 bankruptcy sale of the steel mill, the company that bought Sparrows Point from Bethlehem Steel Corp. could not be held liable for any pollution that escaped the 2,300-acre peninsula before that sale.
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BUSINESS
By Andrea K. Walker and Andrea K. Walker,Sun reporter | June 24, 2008
Russian steelmaker OAO Severstal, which closed on an $810 million deal to buy Sparrows Point in May with promises to invest significantly in the steel plant, said its first major project will be to upgrade the blast furnace. The $10 million renovation will begin in late summer and the blast furnace, which creates raw steel from ore, would be shut down for about 14 days. It was unclear what would happen to employees during the shutdown. The upgrades would allow the plant to produce more steel and in turn increase profitability, the Severstal executives said.
BUSINESS
By Andrea K. Walker, The Baltimore Sun | March 2, 2011
The Russian owner of the Sparrows Point Steel Mill said Wednesday it is selling the Baltimore County plant — once vital to building the company's U.S. footprint and to Maryland's manufacturing industry — to the Renco Group because the business isn't profitable enough. The sale is part of a $1.2 billion transaction, expected to close later this month, that also would transfer Severstal plants in Warren, Ohio, and Wheeling, W.Va., to Renco. The deal would be the fourth ownership change at the plant since Bethlehem Steel declared bankruptcy in 2001.
BUSINESS
By Andrea K. Walker and Andrea K. Walker,Sun reporter | June 26, 2008
Russian steelmaker OAO Severstal emerged yesterday as the apparent winner in a takeover fight for West Virginia-based Esmark Inc., agreeing to buy the steelmaker for $775 million plus debt in a deal that could boost production at Sparrows Point. The deal comes just seven weeks after Severstal completed its purchase of the Baltimore County steel mill from ArcelorMittal for $810 million, with promises to invest $500 million to boost output to full capacity. Yesterday a Severstal spokesman said that with the acquisition, Sparrows Point would supply semi-finished steel slabs to Esmark's struggling Wheeling-Pittsburgh steel plant.
BUSINESS
By Andrea K. Walker and Andrea K. Walker,SUN REPORTER | May 8, 2008
Russian steelmaker OAO Severstal completed yesterday its $810 million acquisition of the Sparrows Point steel mill from ArcelorMittal with plans to invest significantly in the Baltimore County plant and rev up production. Sparrows Point management and labor expressed excitement and hope that the Severstal deal will shore up the future of the 119-year-old plant, which becomes a key part of Severstal's plans to expand in the United States. The plant, which employs 2,500, has languished under a succession of owners, leaving workers anxious about whether it can remain competitive.
BUSINESS
By Andrea K. Walker, The Baltimore Sun | November 4, 2010
The Russian owner of Sparrows Point said it plans to extend a partial shutdown of the Baltimore County mill through the first quarter and will temporarily lay off more than 1,000 people by Christmas as it grapples with low demand for steel. On Thursday, Severstal notified state officials, as required by law, about the layoffs that are expected to occur by Dec. 19. The number of employees whose jobs would be suspended includes 668 who have been out of work since July, when company officials first announced a shutdown of the plant's primary operations.
BUSINESS
By NEW YORK TIMES NEWS SERVICE | May 27, 2006
PARIS -- Arcelor announced plans yesterday to create the world's biggest steelmaker by merging with a Russian steel company controlled by the billionaire Alexei Mordashov, the latest in a series of high-stakes efforts to repel a hostile takeover bid from Arcelor's archrival, Mittal Steel. Mordashov would become Arcelor's largest shareholder by paying cash and stock in his company, Severstal, for 32 percent of Arcelor. Mordashov also is offering a stake in all of Severstal's steel assets and an Italian steelmaker, Lucchini.
NEWS
By M. William Salganik and Paul Adams and M. William Salganik and Paul Adams,Sun reporters | March 22, 2008
Russian steelmaker OAO Severstal announced yesterday that it is buying the steel plant at Sparrows Point and says it plans to run the mill at full capacity and invest up to half a billion dollars during the next five years to improve productivity. Severstal, led by a Russian billionaire who is one of the world's wealthiest men, emerged as the successful bidder in the government-ordered sale, saying it will pay $810 million in cash for the Baltimore County plant. An agreement with an earlier buyer that would have paid Luxembourg-based ArcelorMittal $1.3 billion for the plant collapsed over a lack of financing.
BUSINESS
By Andrea K. Walker, The Baltimore Sun | March 2, 2011
The Russian owner of the Sparrows Point Steel Mill said Wednesday it is selling the Baltimore County plant — once vital to building the company's U.S. footprint and to Maryland's manufacturing industry — to the Renco Group because the business isn't profitable enough. The sale is part of a $1.2 billion transaction, expected to close later this month, that also would transfer Severstal plants in Warren, Ohio, and Wheeling, W.Va., to Renco. The deal would be the fourth ownership change at the plant since Bethlehem Steel declared bankruptcy in 2001.
BUSINESS
By Andrea K. Walker, The Baltimore Sun | January 12, 2011
Baltimore County is holding information fairs this week to assist the more than 1,000 workers who have been laid off from the Sparrows Point steel mill as part of a temporary idling of the primary steelmaking operations. The fairs will be held Thursday and Friday at the Severstal Sparrows Point Conference and Training Center, with morning and afternoon sessions each day. Each session will include presentations about unemployment insurance, federal Trade Adjustment Act benefits, union benefits and health care benefits.  Other sessions will address how laid off workers can cope with stress and give information on housing assistance and foreclosure prevention, career services and educational opportunities.  The Russian owner of the plant, Severstal, announced last year that the mill's blast furnace and hot strip mill will not be in operation until at least March.
BUSINESS
By Andrea K. Walker, The Baltimore Sun | November 4, 2010
The Russian owner of Sparrows Point said it plans to extend a partial shutdown of the Baltimore County mill through the first quarter and will temporarily lay off more than 1,000 people by Christmas as it grapples with low demand for steel. On Thursday, Severstal notified state officials, as required by law, about the layoffs that are expected to occur by Dec. 19. The number of employees whose jobs would be suspended includes 668 who have been out of work since July, when company officials first announced a shutdown of the plant's primary operations.
BUSINESS
By Hanah Cho, The Baltimore Sun | September 30, 2010
Russian steel maker Severstal announced Thursday it has hired a Baltimore firm to build a renewable energy facility at Sparrows Point steel mill to reduce emissions and energy consumption. Renewable Energy Management of Baltimore is expected to begin construction in October of a facility that will produce renewable liquid fuel, a biodegradable, oil-based fuel generated from grease by-products of food manufacturers, for instance. The initial phase of construction is expected to create up to 20 jobs, said Severstal spokeswoman Marika Diamond.
BUSINESS
By Andrea K. Walker, The Baltimore Sun | September 15, 2010
The union president at the Sparrows Point steel plant warned that as many as 1,200 workers could be laid off as the historic Baltimore County mill continues one of the longest shutdowns in recent memory. Not only are the primary steel-making operations idled through December, but the plant's owner, Severstal, intends to sell all of the raw material on hand, according to John Cirri, president of United Steelworkers Local 9477. He told members in an e-mail that 1,000 to 1,200 hourly employees — nearly half the work force — could be affected by the Russian owner's latest business plan.
BUSINESS
By Hanah Cho, The Baltimore Sun | September 14, 2010
The primary steel-making operations at Sparrows Point will remain idled for the rest of the year until market conditions improve, the Russian company that owns the Baltimore County mill announced Tuesday. The continued shutdown adds to renewed uncertainty for about 2,500 workers at the plant, which has seen periodic shutdowns and a succession of owners in recent years. Severstal North America, a subsidiary of one of the world's largest steelmakers, is reportedly looking to sell the Maryland mill and other financially strapped U.S. plants.
BUSINESS
By Hanah Cho, The Baltimore Sun | August 19, 2010
About 500 workers at Sparrows Point have been temporarily laid off because of a two-week shutdown of the steel mill's finishing side operations, according to a spokeswoman at Russian steel company Severstal. The shutdown began Sunday and will end Aug. 29, spokeswoman Marika Diamond said Thursday. "Due to the softening market conditions, we temporarily idled some of the finishing operation for a two-week period … so that we could align our capacity with market demands," she said.
BUSINESS
By Bloomberg News | May 31, 2008
OAO Severstal, Russia's largest steelmaker and the new owner of Sparrows Point, made a formal offer of about $670 million to buy Esmark Inc., whose bid to buy the Baltimore County steel mill fell apart last year. Severstal will offer $17 in cash for each Esmark share in an offer that ends at midnight June 26, the company said yesterday in a statement. Severstal, based in Cherepovets, Russia, indicated May 20 it was considering the $17 per share offer for Wheeling, W.Va.-based Esmark that matched an earlier bid by India's Essar Steel Holdings Ltd. The bid by Severstal, which is trying to expand its U.S. footprint, comes three weeks after it closed on its $810 million acquisition of Sparrows Point.
BUSINESS
By Hanah Cho, The Baltimore Sun | September 14, 2010
The primary steel-making operations at Sparrows Point will remain idled for the rest of the year until market conditions improve, the Russian company that owns the Baltimore County mill announced Tuesday. The continued shutdown adds to renewed uncertainty for about 2,500 workers at the plant, which has seen periodic shutdowns and a succession of owners in recent years. Severstal North America, a subsidiary of one of the world's largest steelmakers, is reportedly looking to sell the Maryland mill and other financially strapped U.S. plants.
BUSINESS
By Andrea K. Walker, The Baltimore Sun | August 13, 2010
Russian steel company Severstal is looking for a buyer for the Sparrows Point steel mill in Baltimore County and its other financially strapped U.S. plants, according to union officials. The news comes as Sparrows Point plans its second shutdown this summer — leaving three-quarters of the plant idle starting next week, said John Cirri, president of United Steelworkers Local 9477. The shutdown could result in more layoffs at the facility. Cirri said he learned this week from higher-level union executives that Sparrows Point was among several steel mills that Severstal was shopping around.
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