History
Severstal-metiz was founded on July 1, 2004, as a management company for three manufacturing companies, namely ChSPZ (Steel Wire Plant, Cherepovets), OSPAZ (Steel Rolling Plant, Orel), and VolgoMetiz (Steel Wire and Rope Plant, Volgograd).
Based on the decisions of the Annual General Meetings of the ChSPZ and OSPAZ shareholders and the VolgoMetiz Members’ Meeting, the powers of the sole executive body were delegated to the Management Company.
At the ChSPZ and OSPAZ Shareholders’ Meetings held in July, 2005, the question about a merger with Severstal-metiz was raised and the decision on a legal reorganization of the group was made.
The reorganization procedure of Severstal-metiz through a merger of Cherepovets Steel and Wire Plant, Orlovsky Steel Rolling Plant and an acquisition of the assets of VolgoMetiz was formally complete by January 1, 2006.
On May 26, 2006, at the Annual General Meeting of Severstal-metiz, it was decided to change the type of the stock joint company – from private (“closed”) to public (“open”). The change came into effect from July 1, 2006.
From July 31, 2008, the Italian company Redaelli, a major manufacturer of high-tech special wire ropes and a world’s leader in tensile structure solutions market, merged into Severstal-metiz.
On October 1, 2014, Severstal-metiz Group of Companies announced allocation of its wire rope assets into Redaelli SSM. New company comprises the Volgograd subsidiary and the commercial management board of Severstal-metiz in the wire ropes segment as well as the supply chain Teci Rus. The corporate headquarters are located in Cherepovets, the subsidiaries - in Volgograd and Moscow.
From July 1, 2016, Orel Steel Rolling Plant (formerly – Subsidiary Orlovsky of Severstal-metiz) separated as a stand-alone business unit managed by Severstal-metiz. Separating the Orel subsidiary as a stand-alone business unit enables the company management to be more flexible and quick in decision-making through delayering.
At the beginning of 2017, Severstal signed a legally binding agreement for the sale of Redaelli Tecna S.p.A. (Part of Severstal-metiz Group) to the Austrian company Teufelberger Wirerope GmbH, one of the leaders in the global wire rope market.
The sales of Redaelli Tecna to a foreign investor, on the one hand, will allow Redaelli to reach its full potential in the European market. On the other hand, the bargain will allow Severstal-metiz to focus on the domestic Russian market and improve its operating results.
As a result, in summer of 2017 the Russian companies Redaelli SSM and Teci were rebranded.
On June 19 Redaelli SSM was renamed as Severstal Wire Ropes (as for the English version).
On June 20 Teci Rus was renamed as Severstal Lifting Technologies (as for the English version).
On August 1, 2018, the Innovations and Business Development Department was established in Metiz Branch of Severstal Management. The new division was created within the Business Development Office.
The Department aims to search and implement innovations in the products and technologies, develop product strategies of the company involving setting the top priority development directions, drawing up a strategic business plan of the company, marketing and product promotion, external project management.
