The main beneficiary of Severstal OJSC, Alexey Mordashov, does not see any problems with the demand for steel. “We are seeing steady demand for steel, at least for now,” Interfax quotes the businessman .

According to Mordashov, Severstal has “good capacity utilization, the order book for October is at least good.” “Yes, the situation in the financial markets is difficult, I cannot exclude that it may affect investment activity. But we are not expecting a disaster. The world is now much better prepared for the crisis than in 2008: business response to the crisis can be faster and more effective,” the entrepreneur assured.

He also said that the company is watching the mergers and acquisitions market and is interested in “continuing growth through M&A, but in a smart and measured way.” “It is important for us to be present in markets with growth potential,” explained Mordashov.

In addition, according to him, the advantage is the ability to make trades in shares. “I would like to remain an important and influential shareholder of Severstal, probably a controlling one, but value creation should be a priority,” the businessman emphasized.

He said that the company was considering the possibility of a buyback, “but no decisions have been made yet.” Also, according to Mordashov, Severstal did not rule out obtaining a premium listing in London. The company's GDRs are currently traded on the standard segment of the LSE.

OJSC Severstal has assets in Russia, North America, Europe, Africa, Kazakhstan and Ukraine. The main beneficiary of the company is its CEO Alexey Mordashov, who owns more than 82%, with about 18% in free float.

Mordashov: Severstal has no problems with demand