DEARBORN, MI--(Marketwired - January 30, 2014) - Severstal North America, one of the leading steel producers in the U.S. and a subsidiary of Severstal, one of the world's leading steel and mining companies, today celebrates its ten-year anniversary in Michigan.
In 2004, Severstal purchased the then-bankrupt Rouge Steel for $290 million, keeping the historic plant from closing and continuing to provide employment for some 1,600 Michiganders. Since then the company has invested more than $1.7 billion in the state of Michigan to create one of the most modern and efficient steelmaking assets in North America.
Dearborn Mayor Jack O'Reilly said, "The City of Dearborn is glad that Severstal has become such an important part of the community. Since 2004, Severstal has invested tremendously in our region and in our city, keeping alive the great manufacturing legacy of the State of Michigan. We're looking forward to many more years of a successful partnership."
Saikat Dey, CEO of Severstal North America, extended his thanks and appreciation on behalf of the entire company to the communities, government officials, customers and suppliers -- for all of their loyalty, help and support through the years.
"We are humbled by all the support we have received and are proud to call Michigan our home. Severstal has truly become the premier benchmark of a manufacturing renaissance and we will continue to look for ways to invest in the region, both through job creation and operational excellence," he expressed.
"Over 9,000 direct and indirect jobs are dependent on the success of our company, as we infuse over $1 billion dollars annually in the Michigan economy through our purchases, whether buying iron ore from the mines of the Upper Peninsula or consuming natural gas and electricity in southeast Michigan. Our steel products are used in cars produced here. And, that's what we can proudly call 'Made in Michigan,'" Dey concluded.
About Severstal North America:
Established in 2004, Severstal North America is one of the largest steel producers the United States, specializing in the full range of high quality light flat rolled products. Corporate headquarters and integrated operations are located in Dearborn, Mich. A state-of-the-art electric arc furnace operation in Columbus, Miss. serves the growing demand for steel in the southeastern United States. Over $3 billion in investments have modernized and expanded both facilities. Severstal also has several joint ventures specializing in value-added coated products and coke making. The company serves customers in more than 20 markets, including automotive, appliance, construction, container, pipe and tubing, distribution, converter and service centers. Severstal North America is a wholly-owned subsidiary of OAO Severstal, one of the world's largest vertically integrated steel and mining companies. Visit our website at www.severstalna.com or follow us on Twitter @SeverstalNA.