Commenting on December results Severstal’s general director Anatoly Kruchinin noted that Severstal fulfilled both quarter and year production and shipment plans, which were increased in the fourth quarter to meet new market demands. The plant made schedules for maintenance and repairs to assure higher production. By means of optimizing repairing jobs, part of repair jobs, particularly those of the steel melting units, was done faster than expected.

The production program was supported by a number of activities of the procurement department, which related to purchasing of additional lots of raw materials.

According to Kruchinin, the output of cast iron reached 209,200 tonnes (102.8%), steel 400,000 (104.3%), rolled steel 358,000 (104.4%).

If the market stabilizes in 2003, Severstal will produce about 8.7 million tonnes of rolled steel. This is a 200,000 tonne increase over the 2002 year’s figures.

08 January 2003