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January 22, 2004

In October, 2003 JSC "Severstal" started construction of Polymeric Coatings Shop and intends to receive first products this year

This was reported by Mr. Andrei Barabantsev, Project Manager, Chief of Polymeric Coatings Shop.

This is a top priority Project for "Severstal" and it is being implemented within the shortest possible period by parallel execution of engineering, construction, equipment delivery.

In order to meet the company intentions to receive first products with polymeric coating late in 2004, construction of 0-level and erection of foundations for the process building of the shop is planned to be finished this March and hand over the building for equipment installation in May, 2004.

According to the Project Manager, "construction progress meets the schedule and it is approximately 3 months ahead of the rate for similar industrial objects erection".

Reference:  Polymeric Coatings Shop will be designed to produce coated Hot-Dip Galvanized Sheet 0.3 - 2 mm gage and up to 1650 mm wide in the amount of 200 thousand tons per year. Construction of the new shop - is one of the three major investment projects. The total cost of the project including construction is around 50 million ?uro. Payback period including construction period is about 3 years.
Parameters of the rolled stock and specific equipment providing possibilities to apply any currently available in the world polymers on metal will allow JSC "Severstal" to enter several markets with a new product - construction industry market and household appliances market.
The Polymeric Coatings Line will use galvanized sheet produced both in the Cold Rolling Shop of "Severstal" and in ZAO "SeverGal" - the joint venture of JSC "Severstal" and the European concern "Arcelor".
The main process equipment for construction of polymeric coating line will be supplied by SMS Demag (Germany). The prime contractor for construction of the new shop is JSC "Montazhspezstroi" and the prime designer is LLC "SSM-Engineering Center".

22 January 2004





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