OREANDA-NEWS. May 25, 2012. Severstal has been named the winner in the Best Corporate Development Strategy category at the annual awards.

Severstal beat off competition from fellow nominees Uralkaliy, Atomenergomash and  Nizhnekamskneftekhim amongst others.

After reviewing the successful implementation of strategies presented by the nominated companies in 2011, the judges declared that Severstal had been the most successful in achieving its objectives.

In 2011, Severstal articulated its updated strategy with the key strategic goal being to achieve a Top 5 industry position by EBITDA through sustained high margins and returns on investment.

Severstal’s 2011 financial results demonstrated that the company was the leader among Russian steel companies in terms of EBITDA, EBITDA margin and ROCE. In 2012, the company will further develop its projects and operations including the construction of a new rolling mill in Balakovo as well as the continuing development of a large iron ore deposit at Putu in Liberia and coalfields in Tyva and the Komi Republic.

Vladimir Zaluzhsky, head of Severstal Investor Relations commented: "Every public company is interested in investor’s support. 2011 was a year of hard work for our department: it was necessary to explain the essential changes occurring in the company. The latest investor perception study showed that many investors believe in Severstal’s strategy and regard it as one of the best among the peers. We believe that it is a good ticket to success for Severstal’s development".