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EVRAZ Looks to Divest North American Business
08/11/2022 - Russia's EVRAZ will begin courting buyers for its EVRAZ North America arm, placing the continent's largest producer by volume of steel rail and large-diameter pipe on the sales block, the company has announced.
In a statement Thursday, EVRAZ said the sale of EVRAZ North America will “unlock the standalone value of the North America business.”
The division comprises two electric arc furnace (EAF)-based mini-mills, four rolling mills, eight tube mills and 17 scrap recycling facilities, and boasts 2.3 million tons of raw steelmaking and 3.5 million tons of finished steel capacity. The company is currently building a US$480 million state-of-the-art rail mill in Pueblo, Colo., USA, which is expected to come on-line next year.
EVRAZ said it will not release further details on the sale process.
To read the full announcement, click here.
