Reportedly, Severstal North America and US Steel have terminated their partnership in the joint venture Double Eagle Steel Coating Co. in Dearborn, Michigan due to weak market demand for electro-galvanized sheets. Sergei Kuznetsov, CEO of Severstal North America stated that they would like to thank its long-term mutual partner in the joint venture, US Steel. Meanwhile, a spokesman of US Steel said that the company expected any production capacity lost by the dissolution of Double Eagle will be compensated by its facilities.
Source:
http://www.yieh.com/2.2.01.01stainlesssteelnews.aspx?no=65381&division=A9
