#SEVERSTAL

Materials & Lightweighting

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.

Business

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.

White House to Review DOE “Green” Energy Loans

The Obama administration has ordered a review of several Dept. of Energy programs that offer low-interest loans to companies for clean-energy projects.

Legal

U.S. to Pay Ford $11 Million for Rouge Site Cleanup

The U.S. government has agreed to pay $11 million to settle a Ford Motor Co. lawsuit seeking compensation for a future cleanup of pollutants at its Rouge manufacturing complex in Dearborn, Mich., The Detroit News reports, citing court documents.

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

Materials & Lightweighting

Russia’s Severstal Steel Applies for U.S. Loan

Russian steelmaker OAO Severstal has asked the U.S. government for a $730 million loan to prepare its Dearborn, Mich., mill to make lighter steel for General Motors, Ford and other companies, Bloomberg News reports.

Materials & Lightweighting

Russia’s Severstal Steel Applies for U.S. Loan

Russian steelmaker OAO Severstal has asked the U.S. government for a $730 million (€513 million) loan to prepare its Detroit-area mill to make lighter steel for General Motors, Ford and other companies, Bloomberg News reports.Such loans are being offered under the U.S.

Steel

Five Workers Injured in Minor Plant Blast in Dearborn

A small explosion at Severstal North America's steel plant the Dearborn, Mich., on Friday sent three workers to the hospital with first- and second-degree burns.

Fiat’s Russia Venture Seeks Bank Loan

Fiat SpA and Russian automaker Sollers JSC are poised to ask for bank loans of €2.1 billion ($2.6 billion) to finance the launch of a joint venture in Tatarstan that would start producing Fiat and Jeep models in 2012.

Fiat’s Russia JV to Build Jeeps

Fiat SpA plans to produce small Jeep models designed by alliance partner Chrysler Group LLC at a joint venture in Tatarstan co-owned with Russia's Sollers JSC, according to Russian news reports.

Production

Fiat, Sollers Forms Ambitious Carmaking Venture in Russia

Fiat SpA and Russia's Sollers JSC have agreed to launch a joint venture that aims to build as many as 500,000 vehicles per year at Sollers' assembly plant in Naberezhnye Chelny, Tatarstan, by 2016.

Propulsion

Altavilla Could Be Fiat’s Next CEO

Alfredo Altavilla, CEO of Fiat Powertrain Technologies, appears a likely candidate to succeed Sergio Marchionne as Fiat SpA's next chief, says Bloomberg News.