#SEVERSTAL

Business

Severstal Sells Rouge Steel Unit, Exits U.S. Market

Russian steelmaker OAO Severstal, which spent $2 billion over the past decade establishing a presence in the U.S., is selling off all its American operations for about $2.3 billion.

Steel

Severstal to Sell U.S. Steel Operations?

Russian steelmaker OAO Severstal is considering multiple bids to buy its mills in Michigan and Mississippi, according to Bloomberg News, which cites unnamed sources.

Severstal Replaces U.S. Management Team

Russian steelmaker OAO Severstal has replaced most of its North American senior management group over the past four weeks, Crain's Detroit Business reports.

Steel

ArcelorMittal Sues Rivals for Infringing Steel Patent

ArcelorMittal, the world's largest steelmaker, has sued Russia's OAO Severstal and Japan's Nisshin Steel, alleging that they misappropriated its patent for automotive steel, Bloomberg News reports.

Labor

Severstal Reaches Contract with UAW

Severstal North America unit says it has reached a tentative five-year contract with the United Auto Workers union.

Steel

Severstal Wins U.S. Loan to Make Improved Steel

The U.S. Department of Energy is ready to loan as much as $730 million to Russian steelmaker OAO Severstal's North American unit to retool its Michigan operations to make lighter, stronger steel for vehicles