Severstal Extends Idling of Sparrows Point Mill Operations
11/10/2010 - Severstal North America is extending the idling of its primary and hot mill operations at the company’s Sparrows Point Mill through the first quarter of 2011. Sparrows Point will continue to provide product to a limited number of its cold-roll and coated-products customers.
Severstal North America is extending the idling of its primary and hot mill operations at the company’s Sparrows Point Mill through the first quarter of 2011.
The company decided to extend the idling period due to the protracted economic downturn and the impact on customer orders. In its communication with employees, the company said it was hopeful that market conditions would improve enough in 2011 to warrant an increase in production levels.
As required by law, the company is providing a Worker Adjustment and Retraining Notification (WARN) Act notice to certain Sparrows Point employees, to the United Steel Workers Union (USW), and to local and state authorities. The purpose of the WARN notice is to give those who are affected by layoffs sufficient advance notice.
While primary and hot mill operations are idled, and other mills will work reduced schedules, the Tin Mill will continue to operate and to service the needs of Tin customers. Sparrows Point will also continue to provide product to a limited number of its Cold Roll, and Coated Products customers.
Severstal North America, the fourth-largest steelmaker in the United States, specializes in the full range of the highest-quality light flat rolled products with fully integrated operations in Michigan, Maryland, Ohio, and West Virginia. A new state-of-the-art electric arc furnace operation in Mississippi serves the growing demand for steel in the southeastern United States. Severstal North America also has several joint ventures for the highest-quality coated products.
Severstal International is an operating division of OAO Severstal comprising the North American and European segments.
OAO Severstal is an international steel and mining company with a listing on the Russian Trading System, Moscow Interbank Currency Exchange and the London Stock Exchange. The company focuses on high value added and unique niche products and operates high-quality assets in Russia, North America and Europe.
