Evraz Highveld Steel: Chief and financial director named

Comment on this story

Evraz Highveld Steel and Vanadium had appointed Jan Valenta as chief executive, the steel producer said yesterday, as it struggles to return to profitability. Valenta had been promoted from financial director and would succeed Michael Dennis Garcia, who stepped down. Valenta’s appointment took effect on Tuesday and the company appointed Olga Luzik as financial director. Evraz said last month that it was unable to borrow more money after it posted a second consecutive annual loss. It said its credit lines were “fully drawn and may not be sufficient to support the company if the company cannot achieve its production and sales and cost targets”. The shares closed unchanged at R8.70 yesterday. – Reuters


sign up
 
 

Comment Guidelines



  1. Please read our comment guidelines.
  2. Login and register, if you haven’ t already.
  3. Write your comment in the block below and click (Post As)
  4. Has a comment offended you? Hover your mouse over the comment and wait until a small triangle appears on the right-hand side. Click triangle () and select "Flag as inappropriate". Our moderators will take action if need be.