Net loss of Severstal OJSC amounted to $878 mln against profit of $3.243 bln in 2008 under International Accounting Standards, stated the accounting department of the enterprise. Company’s income showed almost double reduction (to $9 bln 135 mln) in the reporting period of 2009 against corresponding period of 2008. EBITDA indicator also went down to $207 mln against $5 bln 67 mln in 2008.
Severstal is an international ore mining and smelting company occupied in manufacturing of high added value goods. The company has the experience of procurement and integration of assets in North America and Europe. It also owns a mining company in Russia supplying company’s manufacturing with raw materials. In 2008 the company increased volumes of steel manufactured by 10% (to 19.217 mln tons).