SeverCorr Reaches Production at Next-Generation Steel Mill
In Less Than Two Years of Construction
John Correnti, Governor Haley Barbour and Alexey Mordashov celebrate accomplishments of state-of-the art mill
(Columbus, Mississippi, October 23, 2007): Just two years after breaking ground on vacant prairie land in Lowndes County, Mississippi, SeverCorr officials and their supporters today reflected on the goal they have achieved: melting, casting and rolling high-quality steel in a state-of-the-art mill.
SeverCorr CEO John Correnti spoke to an audience of government and economic development officials and SeverCorr partners, customers and employees in the bay of the plant’s cold mill against a backdrop of coils awaiting shipment. Joining him were Mississippi Governor Haley Barbour and Alexey Mordashov, CEO of SeverStal, a leading global steel company, strategic partner and major shareholder of SeverCorr.
Correnti said, “We are America’s next generation of steel. We are redefining the industry. You can see it in our equipment – an electric arc furnace complimented by integrated finishing equipment like no where else in the world. You can see it in our customer partnerships – customers located right next to us, changing the distribution channel. We are doing things differently.”
Governor Barbour’s message was also about redefinition – redefining Mississippi through economic development the likes of which brought SeverCorr to the state.
Governor Haley Barbour said, "The achievement we celebrate at SeverCorr results from the cooperative spirit that has marked this project from the beginning. I am pleased and proud of how this outstanding company and its local, regional and state partners worked together, solving problems with the determination to get the job done. Now, with high-tech, high-skilled, high-paying jobs for Mississippians and a very bright future, this facility has launched operations that will boost the economy in both this region and the state as a whole. It's a tremendous success story."
That spirit of cooperation was praised throughout the presentations. Correnti paid special thanks to SeverCorr employees for their dedication and hard work in building the new company while Mordashov noted SeverStal’s partnership with SeverCorr made clear business and strategic sense.
Mordashov said, “I’ve been in the steel industry since the beginning of my career and I’ve seen a lot of mills from all around the world. Based on this first-hand experience I can tell you that this operation is both one-of-a-kind and world-class. We are excited to be a part of its development. America is a very important focus for SeverStal – we are confident about its growth prospects and have high expectations for SeverCorr.”
Correnti called for that spirit of cooperation to continue as SeverCorr prepares to expand the facility. He provided preliminary details on the Phase II expansion announced earlier this year. Projections call for an additional investment of approximately $500 million to install a second furnace, caster, pickle line and coating line which will more than double the mill’s output by late 2009/early 2010. Details beyond those projections remain in development.
About SeverCorr LLC: SeverCorr was formed in 2003 to design, engineer, build and operate a state-of-the-art steel facility to service growing manufacturing opportunities in the Southern United States. In October of 2005, SeverCorr broke ground on a next-generation steel mill near Columbus, Mississippi. Able to produce 1.7 million tons of high-quality steels a year, the facility provides products for use in the automotive, building, agricultural, pipe & tube, and appliance industries. A unique feature of the company is its 1400-acre mega-site, which has been designed to accommodate production partners and related manufacturers onsite.
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For further information please contact:
SeverCorr Marketing Department
Mark Bula
662-848-0992 Ext. 0193
mbula@mktgminds.com
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