Alexei Mordashov is elected as a Vice-Chairman of the World Steel Association

The Board of Directors of the World Steel Association has elected Severstal’s CEO, Alexei Mordashov, as one of its two Vice Chairmen. Worldsteel is a non-profit organization with headquarters in Brussels, Belgium, acting as the focal point for the steel industry.

Alexei Mordashov is replacing Xiaogang Zhang, President of Anshan Iron & Steel Group Corporation, who becomes the Chairman of the Board. The former Chairman, Hajime Bada, President & CEO of JFE Holdings Inc., will proceed to work as another Vice-Chairman. The new officers will occupy their current positions for one year, until October 2012.

Severstal has joined Worldsteel in 2001, recording itself as the first Russian member of association and one of the main contributors to its activity via participation in all major committees, special projects and initiatives. These include the Living Steel program to promote steel housing, the Future Steel Vehicle Program to increase the fuel efficiency of automobiles, the “Russia-2020” project to explore the economic and steel industry trends of Russia’s long-term development, and others.

Аlexei Mordashov commented: “At Severstal we are pleased to be among the long-standing participants of Worldsteel and to contribute in promoting steel as the material of choice for a broad number of industries and applications”.

Severstal, JSC is one of the world’s largest vertically integrated steel and mining companies. With assets in Russia and other CIS, USA, Europe and Africa, Severstal reported revenue of $13,573 million and EBITDA of $3,263 million in 2010. Severstal’s crude steel production in 2010 reached 14.7 million tons. Severstal also produced 589 koz of gold at its gold mining assets in West Africa, Kazakhstan and Russia. The company is listed on RTS and MICEX, the company’s GDRs are traded on LSE.