COLUMBUS — Severstal North America (SNA) has successfully completed the sale of its Warren, OH, Wheeling, W.V., and Sparrows Point, Md., assets to the Renco Group Inc.
The sale of these assets is a key component of SNA’s strategic refocusing, which centers around the development of the company’s Dearborn, Mich., and Columbus facilities.
Severstal also announced it has accelerated completion dates for some of its planned capital improvements, and confirmed the remainder of the improvements will be finished on schedule.
Severstal’s development of the Dearborn plant includes a $740-million modernization program that consists of a new cold rolling complex and galvanizing line targeting critically exposed applications for automotive customers and other original equipment manufacturers.
The $550-million expansion project at the Columbus plant will increase annual steel production to 3.4 million tons and double the plant’s galvanizing capacity.
Upon completion of the capital improvement programs, combined annual steelmaking capacity will reach six million tons, cold rolling capacity at Dearborn and Columbus will increase to 3.6 million tons and galvanizing capacity to 2.4 million tons.