Evraz Plc EVRAZ suspends operations at Claymont mill (4578Q)

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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.

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For further information:

Media Relations:

Vsevolod Sementsov

VP, Corporate Communications

   London: [phone]          Moscow: [phone] 

[e-mail]

Investor Relations:

Sergey Belyakov

Director, Investor Relations

   London: [phone]          Moscow: [phone] 

[e-mail]

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

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