Report: Severstal looks to sell Warren mill
WARREN — Just over two years after purchasing the former WCI Steel mill here, Russian steel behemoth OAO Severstal is reportedly looking to sell the Warren mill and some of its other North American holdings.
According to a report in the trade publication American Metal Market this week, Severstal is looking for a buyer for its Warren operations, along with those in Sparrows Point, Md., and Wheeling, W. Va.
The report said the company had sent information about the operations to several steel-industry leaders.
Marika Diamond, a spokeswoman for the company’s North American division, declined to comment. “It is company policy not to comment on market rumors or speculation,” she said.
Severstal purchased the Warren plant in 2008 as part of its $2.8 billion acquisition of several North American plants.
The Warren plant — like many of Severstal’s North American facilities — was idled for much of 2009 as a result of weak market demand.
Severstal Warren reopened in March, recalling about 800 of 1,100 laid-off hourly workers.
The company has scaled back dramatically its Wheeling operations and in June announced that it would idle its primary steelmaking facilities at Sparrows Point.