Sunday, April 09, 2006
Russians revive Rouge steel
I like a story where someone comes in an invests in a historical steel mill, revives it and makes steel and profits again.
The Detroit News
The Russians arrived two years ago, stayed and the old Rouge Steel is beginning to prosper again.
Oh, sure, it's got a Russian name now -- Severstal North America Inc. Its CFO is called Kuznetsov, and the big boss back home is Alexey Mordashov, one of post-Soviet Russia's wealthiest moguls. But the point for Dearborn and 2,100 former Rouge Steel employees is that the steel works Henry Ford built are no longer bankrupt. They're rolling again and they have a future.
The Detroit News
The Russians arrived two years ago, stayed and the old Rouge Steel is beginning to prosper again.
Oh, sure, it's got a Russian name now -- Severstal North America Inc. Its CFO is called Kuznetsov, and the big boss back home is Alexey Mordashov, one of post-Soviet Russia's wealthiest moguls. But the point for Dearborn and 2,100 former Rouge Steel employees is that the steel works Henry Ford built are no longer bankrupt. They're rolling again and they have a future.
