Severstal CEO Awarded for Contribution to Latvian Economic Advancement
05/22/2013 - Alexey Mordashov, CEO of OAO Severstal, has been awarded with the Cross of Recognition, Degree III, which is one of Latvia’s highest honors, in recognition of his contribution to Latvia’s economic development.
Alexey Mordashov, CEO of OAO Severstal, has been awarded with the Cross of Recognition, Degree III, which is one of Latvia’s highest honors, in recognition of his contribution to Latvia’s economic development. The award was presented by the Latvian president Andris Bērziņš.
Alexey Mordashov commented, “I am honored that our efforts have been recognized with such a prestigious award. We will work hard to continue to improve and strengthen the business and cultural ties between Russia and Latvia.”
OAO Severstal is one of the major international investors of Latvia. The company's subsidiary in Latvia is AO Severstallat, which is the region’s sole manufacturer of welded pipes. Severstallat, one of the Latvia’s largest businesses, ranks second across the country’s industrial companies in terms of production volumes. The company yields approximately 1% of the Latvian GDP.
Since commissioning in 2001, Severstallat’s investment in Latvian businesses has reached approximately USD 50m. Furthermore, the company has invested USD 17m into Poland, creating a subsidiary called Severstallat Silesia in 2008. Over the same period, Severstallat’s tax contributions have exceeded USD 150m, of which USD 9m was paid in 2012.
OAO Severstal also supports a wide range of Latvia’s social and cultural projects. Since 2006 Severstal sponsored Golden Mask, a Latvian theater festival, as well as numerous other cultural events including the premiere of Boris Eifman, a concert of the Russian National Philharmonic Orchestra. Severstal has also sponsored the restoration of the Fraternal Cemetery of Riga memorial as well as “The Monument to Liberators of Riga”.
During his stay in Riga on the eve of the 68th anniversary of the Victory in the Great Patriotic War Alexey Mordashov laid flowers at the Memorial to Liberators in the Victory Park.
