Growth of steel consumption in Russia to make up 3% in 2014
~~In 2014, Severstal expects increase in steel consumption in Russia by 3%, mainly due to growth in such sectors as construction and the oil and gas industry (including due to purchase of large diameter pipes for new projects), Severstal reports, referred to its general director and the main shareholder of the company, Alexei Mordashov.
“In 2014, the management’s efforts will be directed to the further improvement of the profit rates. The implementation of the previously approved strategy of the company, aimed at the increase of efficiency, the maintenance of the lowering of costs, the optimization of capital investments and the creation of higher added value due to a better customer-oriented approach and the improvement of product portfolio will contribute to it,” – the main shareholder of Severstal noted