Baltic States – CIS, Latvia, Markets and Companies

As LETA was informed by Nils Kalns, Severstallat's head of communications, compared with 2006, the company's profit has grown by LVL 3.34 million and turnover – by LVL 40.33 million, informs LETA.

Severstallat sold 368,553 tons of metal production last year, including 90,068 tons produced in company's service center.

Severstallat subsidiary companies in Latvia are Latvijas metals and Armaturas servisa centrs. At the beginning of last year, another two subsidiary companies of Severstallat were founded abroad: UAB Armeta Centras in Lithuania and Severstallat Silesia Sp. Z.o.o in Poland.

As reported, Severstallat was founded in 1992.

Severstallat's metal products are exported to such countries as Poland, Germany, the Czech Republic, Scandinavia and others.

Severstallat is a subsidiary of the Russian metallurgical company Severstal, which is one of the three largest metallurgical companies in Russia.

Net profit of the Russian concern Severstal last year increased by 33.1%, reaching USD 1.94 billion (LVL 861.4 million). Also the turnover of the company hit a record sum, amounting to USD 15.25 billion (LVL 6.8 billion), which was mainly due to the surging steel selling price.