SOURCE: Severstal Dearborn, LLC

Severstal Dearborn, LLC

April 30, 2014 09:38 ET

Severstal North America Reports Strong 1st Quarter Despite Adverse Weather and Market Conditions

Severstal Columbus Breaks $100 per Ton EBITDA Benchmark

DEARBORN, MI--(Marketwired - April 30, 2014) - Severstal North America ("SNA"), a leading steel producer in the United States and a subsidiary of Severstal, a global steel and mining company, reports another strong financial performance in the first quarter of 2014.

SNA has delivered progressive revenue growth and consistent shipment volumes despite tough winter conditions and weak demand early in the year. "Our strong financial performance despite adverse conditions is further affirmation that we are on the right track as a business," commented Saikat Dey, CEO of SNA.

Severstal Columbus has achieved an important milestone in its performance delivering a record-breaking $102.50 EBITDA per net ton ($113 per metric ton). In addition, Severstal Dearborn's performance was highly rated by its key automotive customers for quality, on-time delivery and customer service.

"We are working diligently to bring value to the marketplace while keeping our costs down. Our recent profitability growth is a testament to our team's strategic focus on performance and quality, and the culture of engagement we are building at SNA," said Dey.

To view the full Q1 report, go here

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 or follow us on Twitter @SeverstalNA.

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