What Recession? Russian Steel Tycoon, Mordashov, Invests in U.S. Production.

Alexei Mordashov, Russian boss of Severalsteel, didn’t get the memo about about the U.S. double dip recession. In an interview with The Moscow Times, he said the company plans to start new units at its plants in Michigan, Mississippi, and Ohio by the end of the year. Severalsteel will be investing $1.3 billion, in order to raise its output capacity in the United States to 5.2 million tons a year.

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