CEO: Severstal Kanaty rope maker to start exports

VOLGOGRAD, Apr 4 (PRIME) -- Volgograd-based Severstal Kanaty (Severstal Ropes), an affiliate of steel maker Severstal, has completed an upgrade and plans to set foot on foreign markets, CEO of parent unit Severstal-metiz Sergei Kovryakov told reporters on Thursday.

“We can raise the volume, but the Russian market does not grow that much. We plan to set foot on other markets, the European, Asian markets,” Kovryakov said.

“We plan to expand by up to 500 tonnes a month but the project is aimed to a larger degree at replacement of ropes made in the old way.”

He also said that the company plans to invest about 200 million rubles in further development in 2019.

(65.1639 rubles – U.S. $1)

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