Steel Mills
Evraz NA Files for IPO
Written by Sandy Williams
September 27, 2014
Evraz North America LLC has filed for an initial public offering (IPO) with the US Securities Exchange Commission.
Evraz North America said it intends to use the proceeds from the share offering to complete acquisition of North American assets and repay debt to its Russian parent company Evraz.
The number and price of shares to be offered has yet to be determined. After sale of the shares, Evraz will continue to be the majority stakeholder.
Evraz North America operates six production sites, in addition to scrap processing units, a plate mill and a wire rod mill, in the US and Canada focusing on engineered steel products for rail, energy, and industrial end markets. Sales as of June 30, 2014 totaled $1.5 billion on 1.4 million tons of product. Net income at the end of the period was $40 million.
Sandy Williams
Read more from Sandy WilliamsLatest in Steel Mills
USW seeks clarity on plans for Granite City Works
The United Steelworkers union has asked U.S. Steel to elaborate on its Granite City Works plans following reports that the steelmaker is ending processing at the facility.
Nucor maintains plate prices, opens October order book
Nucor aims to keep plate prices flat for a seventh straight month with the opening of its October order book.
ArcelorMittal Mexico to import from sister mills as it works to resume DRI production
ArcelorMittal has partially restarted operations at its direct reduction plant in Lazaro Cardenas, Michoacan. An explosion on Aug. 18 rocked the massive steelworks on Mexico’s Pacific coast, impacting production of direct-reduced iron (DRI).
Fall maintenance outages are coming in hot
Labor Day has passed, the sun is starting to set a little earlier each day, and cooler weather has begun to find its way down to many of us across North America. And you know what that means for the steel industry… Fall maintenance outages!
AISI: Domestic steel production ticks up
US raw steel production ticked up in the week ending on Sept. 6 after a decrease the week before, according to the most recent data from the American Iron and Steel Institute (AISI).