Severstal Earnings Up Despite Weather
DEARBORN, Mich. (Press Release) — 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 recordbreaking $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 http://www.severstal.com/eng/media/news/document12242.phtml