EVRAZ Inc. Steelmaking Assets to be Acquired by Private Equity Firm

SEATTLE (Scrap Monster): The leading manufacturer of engineered steel products in the United States and Canada, EVRAZ Inc. NA and EVRAZ Inc. NA Canada and their respective subsidiaries, primarily serving the rail, energy, infrastructure, and industrial end markets, has reached a definitive agreement to be acquired by the Connecticut-based private equity firm Atlas Holdings.

Subject to specific closing conditions, the transaction, which is estimated to be worth $500 million, is anticipated to close in the second half of 2025.

Both Calgary's United Steelworkers (USW) Local 6673 and Regina's USW Local 5890 hailed the news.

EVRAZ North America runs 17 scrap recycling plants, 12 steel product mills, and two electric arc furnace steel facilities.

James "Skip" Herald, president and CEO of Evraz North America, stated in a press release that with Atlas Holdings' help, the company will be able to boost innovation, fortify its business, and keep providing its clients with high-quality steel. The company will embark on an exciting new era. He went on to say that the new collaboration guarantees its teams in the United States and Canada a promising and secure future.

The investment will contribute to the development of a more thriving domestic steel production business in the United States and Canada, according to Sam Astor, Partner, Atlas Holdings.

YOU MAY ALSO BE INTERESTED IN:

Evraz Steel Mill in Pueblo Resumes Manufacturing Operations After Fire

Evraz Rocky Mountain Steel Enacts Hundreds of Temporary Layoffs in Pueblo Rail Mill