Evraz Plc EVRAZ suspends operations at Claymont mill (4578Q)
October 14 2013 - 10:00AM
UK Regulatory
TIDMEVR
RNS Number : 4578Q
Evraz Plc
14 October 2013
EVRAZ Suspends Operations at Claymont Mill
Chicago, 14 October 2013 - EVRAZ North America announces that
due to subdued market demand and the high volume of imports, it
will suspend operations at its steel mill in Claymont, Delaware.
Over the next two months, about 375 employees will complete
processing and shipping of existing products and prepare the mill
for idling. EVRAZ will consider restarting the operations as soon
as the market conditions improve.
EVRAZ doesn't expect any adverse financial effect on its
operations in North America as a result of this action, and
customers of the Claymont mill will be served by other EVRAZ
facilities in Portland, Oregon, and Regina, Saskatchewan.
"We appreciate our employees' efforts to operate EVRAZ Claymont
as efficiently as possible," said John Zanieski, Executive Vice
President - Flat Products and Recycling. "Unfortunately, market
conditions continue to be challenging and low market visibility
makes it difficult to foresee when positive changes will
occur."
All of the mill's employees, with the exception of a small crew
who will remain to maintain the site, have been issued Worker
Adjustment and Retraining Notification (WARN).
With the help of Governor Markell's office, the company is
evaluating options for resuming operations at the Claymont mill.
"We value the support we have received from the Governor, the state
of Delaware and the community of Claymont over the years and
appreciate their continued support during this challenging time,"
stated Zanieski.
EVRAZ Claymont makes steel plate and custom plate products for
industrial customers. Total production volumes in H1 2013 and for
the whole of 2012 were 171.5 thousand metric tonnes and 348
thousand metric tonnes, respectively.
###
For further information:
Media Relations:
Vsevolod Sementsov
VP, Corporate Communications
London: +44 207 832 8998 Moscow: +7 495 937 6871
media@evraz.com
Investor Relations:
Sergey Belyakov
Director, Investor Relations
London: +44 207 832 8990 Moscow: +7 495 232 1370
ir@evraz.com
EVRAZ is a vertically integrated steel, mining and vanadium
business with operations in the Russian Federation, Ukraine, USA,
Canada, Czech Republic, Italy and South Africa. EVRAZ is among the
top steel producers in the world based on crude steel production of
15.9 million tonnes in 2012. In 2012 EVRAZ sold 15.3 million tonnes
of steel products. A significant portion of the company's internal
consumption of iron ore and coking coal is covered by its mining
operations. The company's consolidated revenues for the year ended
31 December 2012 were US$14,726 million, and consolidated EBITDA
amounted to US$2,012 million. The H1 2013 consolidated revenue was
US$7,362 million and the H1 2013 EBITDA was US$939 million.
This information is provided by RNS
The company news service from the London Stock Exchange
END
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