Severstal representatives met with senior management from SFIL to sign the contract in August 2007 after six-months of negotiations and just weeks after severe floods disrupted operations at Forgemasters’ Brightside Lane site, highlighting the company’s importance in the global marketplace.

Ken Brooks, senior sales manager at Sheffield Forgemasters’ rolls department, said: “This contract forms part of a continued development of business between SFIL and Severstal.

“We originally supplied ten steel rolls to Severstal many years ago and we have worked to build on that relationship.

“Severstal is one of the Russia’s largest steel companies and Forgemasters is now responsible for providing 70 per cent of its entire steel roll requirement.”

The rolls, each weighing between five and 50 tonnes, will operate in steel rolling mills at Severstal’s Cherepovets plant - predominantly manufacturing high-quality sheet for car and truck producing industries in Russia.

Dr Graham Honeyman, chief executive at SFIL, said: “Forgemasters’ involvement in global trade is stronger than ever and the company currently exports 80 per cent of its products.

“The signing of the Russian contract shows that trade between our two countries is alive and well. Equally, it shows that Forgemasters is undiminished after setbacks caused by recent flooding.”

Sheffield Forgemasters International Ltd has a global network of offices and agents.

SFIL continues to supply an increasing global demand for high quality engineered products to key industries such as defence, nuclear, oil and gas exploration, power generation, marine and construction.