Severstal to Idle Wheeling, Warren Operations
May 8, 2009
Severstal plans to indefinitely idle the steelmaking and hot-rolling operations at Severstal Wheeling Inc. In addition, the cold-rolling and coating operations at Wheeling will also be temporarily idled in the coming weeks. Severstal also announced it would indefinitely idle all production and finishing operations at its Severstal Warren Inc. facility until there is an improvement in market conditions. About 1,900 employees at the Wheeling facility and about 1,200 at the Warren facility will be affected. The company said it would continue to work closely with the United Steel Workers. Severstal, the U.S. arm of Russia’s OAO Severstal, acquired Wheeling for $1.25 billion last summer.