Year of Progress Solidifies SeverCorr’s Vision for 2007

One year into construction at its next-generation steel mill in Lowndes County, MS, SeverCorr officials reflected on the progress the company has made since breaking ground in October 2005. At a community event held at the facility, economic development and government officials heard an update from SeverCorr Chief Executive Officer and President John Correnti on the impact this last year has made on the company.

“It’s amazing to think it was just one year ago that we stood at this same spot and together broke ground to begin this journey,” said Correnti. “We have made outstanding progress in the last year in so many areas. When we take a look at all the positives, we can’t help but be immensely excited about the future of SeverCorr and the future of the region we call home.”

Much of the progress outlined by Correnti was extremely obvious – immense buildings now stand on what was once barren ground with construction crews numbering over 1,200 active on the site. The building housing the pickling line will be the first area completed, with that portion of the mill coming on-line in December. Additional areas of the facility will be brought into production as they are completed with the entire facility on schedule to be fully-operational by third quarter 2007.

The pickling line is also where the first of SeverCorr’s production workers will be stationed. Over 9,000 applicants applied for positions at the facility with the first group of 15 starting training this week. Additional groups of 20-40 workers will be hired each month throughout 2007 as the mill ramps up to full production.

Other indicators, such as the response from target markets, may be less visible yet officials stress they are equally as important.

“Our future customers have responded with excitement to the company we are building and the products we will provide – about one-third of our capacity has already been committed,” said Correnti. “And that excitement is shared by our business partners who are locating new facilities here. Our partners Kenwal, Heidtman, Levy and Linde Gas are together bringing $130 million in investment and nearly 350 new jobs to the area. We expect more companies to locate here as we continue to spread the news of SeverCorr to the steel industry and others.”

“We certainly have a lot more work to do and many more steps to take,” said Correnti. “But our path is clear – we are committed to building the finest steel company and the finest steel-making facility. And we are well on our way.”