Severstal North America entered into a definitive agreement to sell certain assets operated under Northern Steel Group Inc., a steel services business, to an affiliate of Aurora Resurgence, a Los Angeles, Calif., private equity fund. The agreement is for the sale of Miami Valley Steel Service of Piqua, Ohio; Premier Resource Group of Lombard, Ill.; Electric Coating Technology of East Chicago, Ind.; and U.S. Metals and Supply of St. Louis, Mo. The remaining businesses under Northern Steel Group will be retained by Severstal North America. The transaction is expected to be completed during the second quarter of 2010.
Tenova Core has been contracted to design and supply a melt-shop material-handling system as part of Severstal North America’s Phase II project at its Columbus, Miss., facility. The project features an EAF flux charging system and an LMF/VOD alloy and flux material-feed system. Tenova Core is supplying some of the equipment for the carbon injection system, and it will also design the necessary process control and automation systems to operate the material-handling systems.
Severstal Sells Four Service Centers
April 30, 2010