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.

Evraz

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

Laura Miller is a reporter and editor for Steel Market Update. Since 2007, she has held various editorial and marketing positions with steel industry publications, associations, and mills. In 2021, after a five-year hiatus working across other industries, she returned to steel trade journalism, joining SMU in 2022. She is a member of the Association of Women in the Metal Industries and a past-president of the AWMI Pittsburgh Chapter. She holds a BA in Latin American Studies from Edinboro University of Pennsylvania. She can be reached at laura@steelmarketupdate.com or 724-759-7869.

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