Severstal sees fall in sales in 2013
March 3, 2014
OAO Severstal, the Russian steelmaking giant with a 21% share of the domestic market for crude steel production, has reported a 5.6% decline in revenues for its 2013 financial year to $13,312 million. The group reported EBITDA of $2,158 million, down 4.4% on the previous year
The group’s Severstal Tyazhmash division, based in Cherepovets, Vologda Region, is a leading Russian producer of metal products such as forgings, castings and stamped parts, and is also the country’s premier producer of water atomized iron powders.
The group is reported to have produced 5,964 tons of iron powders with a sales value of $208 million.
