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Latest OAO Severstal Stories

2011-07-13 10:22:00

DEARBORN, Mich., July 13, 2011 /PRNewswire/ -- Severstal North America ("Severstal"), a subsidiary of OAO Severstal, today announced that it has received a conditional commitment for a $730 million loan from the U.S. Department of Energy. The proceeds from the loan will be used to design, manufacture, and construct Severstal's finishing facilities in Dearborn, Michigan, which will produce the next generation of advanced high strength steels (AHSS) for automotive applications. AHSS is a...

2011-03-02 10:07:00

In the news release, Severstal North America Sells Warren, Wheeling, and Sparrows Point Facilities, issued March 2, 2011 by Severstal North America over PR Newswire, we are advised by the company that Raymond James and Associates, Inc. also acted as Severstal's financial adviser, (along with Evercore Partners), on Severstal's sale of its Warren, Wheeling, and Sparrows Point assets to the Renco Group, Inc. The complete, corrected release follows: Severstal North America Sells Warren,...

2011-03-02 07:05:00

DEARBORN, Mich., March 2, 2011 /PRNewswire/ -- Severstal North America, a subsidiary of OAO Severstal, today announced that The Renco Group, Inc. has signed a definitive agreement to purchase Severstal's operations at Warren, OH, Wheeling, WV, and Sparrows Point, MD. The transaction is expected to close in March 2011, and is subject to customary closing conditions, including expiration or early termination of the Hart-Scott-Rodino waiting period. As transaction consideration, Severstal...

2010-12-28 15:15:00

CLEVELAND, Dec. 28, 2010 /PRNewswire-FirstCall/ -- Lincoln Electric Holdings, Inc. (Nasdaq: LECO) today announced that it has signed a definitive agreement to acquire OOO Severstal-metiz: welding consumables, a leading manufacturer of welding consumables in Russia and a subsidiary of OAO Severstal, one of the world's leading vertically integrated steel and mining companies. The transaction will include acquiring manufacturing operations and exclusive distribution rights of the Severstal...

2008-08-22 09:00:53

TORONTO, ONTARIO--(Marketwire - Aug. 22, 2008) - NOT FOR DISSEMINATION IN THE UNITED STATES OR FOR DISTRIBUTION TO U.S. NEWSWIRE SERVICES AND DOES NOT CONSTITUTE AN OFFER OF THE SECURITIES DESCRIBED HEREIN PBS Coals Corporation ("PBS"), a private British Columbia corporation, and Penfold Capital Acquisition Corporation (TSX VENTURE:PNA.P) are pleased to announce that they have entered into a Support and Purchase Agreement with Severstal Resources, the mining division of OAO Severstal...

2008-08-06 03:00:41

By Joe Napsha, The Pittsburgh Tribune-Review Aug. 6--The consolidation of the global steel industry continued Tuesday as Russian steelmaker OAO Severstal completed its $1.25 billion purchase of Esmark Inc., the parent company of Wheeling-Pittsburgh Steel Corp. Severstal sealed the deal to acquire Esmark by purchasing 38.7 million shares of Esmark, or about 94.1 percent of its outstanding stock, by Monday's deadline for the tender offer, Severstal said. The Russian company paid about $775...

2008-08-05 00:00:24

WHEELING, W.Va., Aug. 5 /PRNewswire-FirstCall/ -- Esmark Incorporated ("Esmark") today announced the completion of its acquisition by OAO Severstal (LSE: SVST; RTS: CHMF) ("Severstal"). The acquisition was completed pursuant to the merger of Severstal Wheeling Acquisition Corp., a wholly-owned subsidiary of Severstal, with and into Esmark. Esmark was the surviving corporation of the merger and is now an indirect, wholly-owned subsidiary of Severstal and has been renamed "Severstal Wheeling...

2008-08-05 00:00:24

MOSCOW, Aug. 5 /PRNewswire-FirstCall/ -- OAO Severstal (LSE: SVST; RTS: CHMF), one of the world's leading metals and mining companies, today announced that it has completed its acquisition of Esmark Incorporated, a manufacturer and distributor of flat rolled and other steel products. The acquisition was completed pursuant to the merger of Severstal Wheeling Acquisition Corp., a wholly-owned subsidiary of Severstal, with and into Esmark. Esmark, as the surviving corporation in the merger, is...

2008-07-16 00:00:25

WHEELING - Russia's OAO Severstal plans to take Esmark Inc. off the public stock market after an upcoming buyout that was nearing completion Monday. In a filing with the Securities and Exchange Commission, Severstal also reported that Franklin Mutual Advisors has tendered 23.74 million Esmark shares, or 60.1 percent of the company, to the Russian firm. Severstal's tender offer expires at midnight Friday. Severstal is buying the parent of Wheeling-Pittsburgh Corp. for $760 million, plus...

2008-07-07 15:00:37

WARREN, Ohio, July 7 /PRNewswire-FirstCall/ -- The sale of WCI Steel Inc. to OAO Severstal was completed today, providing "a bright future built on a proud past" for its employees, customers, suppliers and community, said Leonard M. Anthony, outgoing president and chief executive officer of WCI Steel. "Since 1912, steel has been made in Warren, providing good-paying jobs for hundreds of thousands of people during its nearly 100 years of operation. Over the years, the changes in ownership...


Word of the Day
caparison
  • A cloth or covering, more or less ornamented, laid over the saddle or furniture of a horse, especially of a sumpter-horse or horse of state.
  • Clothing, especially sumptuous clothing; equipment; outfit.
  • To cover with a caparison, as a horse.
  • To dress sumptuously; adorn with rich dress.
This word ultimately comes from the Medieval Latin 'cappa,' cloak.
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