GREENWICH - Atlas Holdings has signed a definitive agreement to acquire EVRAZ North America.
According to their news release Friday, the closing of the sale is expected to take place in the second half of 2025 and is subject to certain closing conditions.
EVRAZ North America, which includes EVRAZ Inc. NA and EVRAZ Inc. NA Canada and their respective subsidiaries, is the operator of the steel plant in Regina, as well as facilities in Pueblo, CO; Portland, OR; and in Alberta.
According to their news release, EVRAZ North America "is a producer of high-quality engineered steel products for the North American rail, energy and industrial end user markets, employing 3,400 individuals across the U.S. and Canada with steelmaking capacity of 2.3 million tons and finished steel capacity, including tubular products, of 3.5 million tons." The Canadian operation is described as "one of the largest energy tubulars suppliers in North America."
“Our approach is straightforward and consistent: we invest in industrial businesses for the long term and provide the capital and leadership expertise to grow those companies and ensure success. Despite the global dynamics of the steel market and unique challenges facing the business, the EVRAZ team has continued to drive the business forward and we want to thank them for their hard work and dedication. This a major investment in creating a more vibrant domestic steel production industry right here in the United States and Canada,” said Atlas Partner Sam Astor in a statement.
"By collaborating with customers in the rail, industrial, and energy sectors – alongside every level of government, the United Steelworkers, Unifor, the International Union of Operating Engineers, the Iron Workers, and our dedicated team – we’re charting an exciting path forward for the company."
“This is an exciting new chapter for EVRAZ North America. It brings long-term opportunity for our people, our customers, and the communities where we operate. Atlas shares our belief that a strong future starts with investing in the people who make it happen. Their strategic approach and track record of operational investment make them the right partner for our next chapter. With their support, we will be able to accelerate innovation, strengthen our operations, and continue delivering the high-quality steel our customers have relied on since 1881. Most importantly, this partnership ensures a bright and stable path forward for our teams across the U.S. and Canada,” said James ‘Skip’ Herald, President and Chief Executive Officer of EVRAZ North America.
Atlas Holdings is headquartered in Greenwich, Connecticut and owns and operate 27 companies, which employ more than 57,000 people across over 350 facilities worldwide.
