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

Op-Ed: Ternium CEO Máximo Vedoya wants a fair future forged in steel
After recently receiving an industry honor on behalf of Ternium, I had the opportunity to reflect and share my vision on the state and future of our industry.

Nippon eyeing new $4B U.S. Steel mill to sweeten deal: Report
Nippon Steel could build a new domestic U.S. Steel mill with a total investment of $4 billion.

Nucor cuts CSP by $20/ton, third straight drop
Nucor has lowered its consumer spot price by $20 per short ton, marking the third consecutive weekly decrease.

Nucor reports IT systems breach
Nucor said it temporarily and proactively halted some production operations at various locations.

Cliffs talks DOE funding, blast furnace relining schedule
The future of two projects supported in part by funding through the Department of Energy remains uncertain.