Severstal saves $37 million due to reduction of production costs at CherMK

In the first quarter of 2014, the Cherepovets metallurgical plant, one of the largest integrated steel plants in the world (a part of the division Severstal Russian Steel) reduced its production costs by over $37 million.

"Such savings were obtained by reducing the production costs at the enterprise.s Almost all enterprises not only surpassed the results of the fourth quarter of 2013, but also overfulfilled the ambitious goals of the first quarter of this year. This result was made primarily due to implementation of effective initiatives, developed by technical experts," - Severstal Russian Steel’s general director Sergei Toropov said.