Steel Mills
Evraz Puts North American Operations Up for Sale
Written by Laura Miller
August 10, 2022
Russia’s Evraz plc has put its North American operations up for sale.
Evraz North America (Evraz NA) operates two electric arc furnace facilities, four rolling mills, eight tube mills, and 17 scrap recycling facilities. It has annual steelmaking capacity of 2.3 million tons and a finished steel capacity of 3.5 million tons per year, including tubular products. It is a leading producer of rail, pipe, and steel plate.
The company is also currently building a greenfield rail facility to replace an existing rail mill, which is expected to be completed by 2023.
“The possible transaction will be subject to regulatory and corporate approvals and applicable sanctions laws, and will require approval from relevant sanctions authorities,” Evraz said in a statement.
Evraz plc said it has not received, nor does it plan to receive, any income from the activities of its North American operations this year.
Additionally, “Evraz does not intend to provide any additional information on this process unless or until the process is finalized,” the company said.
Evraz NA performed well in the first half of 2022 despite its parent company’s struggles due to Russia’s ongoing war in Ukraine. Its H1 earnings before interest, taxes, depreciation and amortization (ebitda) totaled $296 million.
A spokeswoman for Evraz NA said the company does not have any additional comment at this time.
By Laura Miller, laura@steelmarketupdate.com
Laura Miller
Read more from Laura MillerLatest in Steel Mills
SDI profits soar in Q3’25 amid ‘record’ steel shipments
Steel Dynamics Inc.’s third-quarter profits jumped year over year as the company saw “record” quarterly steel shipments
Cliffs leans hard into auto after aluminum supply chain shock
Cleveland-Cliffs executives pointed to growing automotive demand as the engine driving a turnaround at the company.
CMC to strengthen precast position with Foley Products acquisition
Commercial Metals Co. (CMC) will acquire Newman, Ga.-based Foley Products Co. for $1.48 billion, making it the number three US precast concrete producer.
Cliffs posts Q3 loss, but sees upside in slab contract exit and auto deals
Cleveland-Cliffs Inc. pointed to signs of recovery in its third-quarter earnings report on Monday. Improved automotive volumes and a better product mix drove sequential gains, but the steelmaker’s financials continue to bled red.
CMC Q4 profits rise on improved market conditions
CMC reported higher net earnings in its fiscal fourth quarter on "better market conditions" across its segments.