Atlas Holdings to Acquire EVRAZ North America, a Leading Steel Producer in the U.S. and Canada

Atlas’ Record of Strengthening and Growing Steel and Industrial Companies Ensures Leadership of EVRAZ in North America for Years to Come

GREENWICH, Conn. – June 27, 2025 – Atlas Holdings (“Atlas”) today announced the signing of a definitive agreement to acquire EVRAZ Inc. NA and EVRAZ Inc. NA Canada and their respective subsidiaries (together, “EVRAZ North America”), a leading producer of engineered steel products in the United States and Canada for rail, energy, infrastructure and industrial end markets. EVRAZ North America operates facilities in Pueblo, CO; Portland, OR; Regina, Saskatchewan; and across Alberta, Canada. The closing of the sale is expected to take place in the second half of 2025 and is subject to certain closing conditions.

EVRAZ North America is a producer of high-quality engineered steel products for the North American rail, energy and industrial end user markets, employing 3,400 individuals across the U.S. and Canada with steelmaking capacity of 2.3 million tons and finished steel capacity, including tubular products, of 3.5 million tons. EVRAZ North America’s Pueblo, CO facility is the world’s largest solar-powered steel mill and the largest rail supplier in North America. Its Canadian Operation is one of the largest energy tubulars suppliers in North America. The business operates two electric arc furnace steel facilities, 12 steel product mills and 17 scrap recycling facilities. Products made at EVRAZ North America regularly contain 98%+ recycled scrap material.

“Our approach is straightforward and consistent: we invest in industrial businesses for the long term and provide the capital and leadership expertise to grow those companies and ensure success. Despite the global dynamics of the steel market and unique challenges facing the business, the EVRAZ team has continued to drive the business forward and we want to thank them for their hard work and dedication. This a major investment in creating a more vibrant domestic steel production industry right here in the United States and Canada,” said Atlas Partner Sam Astor.

“By collaborating with customers in the rail, industrial, and energy sectors – alongside every level of government, the United Steelworkers, Unifor, the International Union of Operating Engineers, the Iron Workers, and our dedicated team – we’re charting an exciting path forward for the company,” added Astor.

“This is an exciting new chapter for EVRAZ North America. It brings long-term opportunity for our people, our customers, and the communities where we operate. Atlas shares our belief that a strong future starts with investing in the people who make it happen. Their strategic approach and track record of operational investment make them the right partner for our next chapter. With their support, we will be able to accelerate innovation, strengthen our operations, and continue delivering the high-quality steel our customers have relied on since 1881. Most importantly, this partnership ensures a bright and stable path forward for our teams across the U.S. and Canada,” said James ‘Skip’ Herald, President and Chief Executive Officer of EVRAZ North America.

Atlas has a more than two-decade record of building and supporting successful industrial facilities, including steel companies that helped construct 1 World Trade Center and the Frederick Douglass Memorial Bridge in Washington, DC. Atlas also brings deep experience investing in and helping build companies operating in Canada, today with more than 2,500 associates across nine operations in Canada. Atlas has had extensive experience working in partnership with national, provincial and local governments, and with Canadian labor unions.

On May 5, 2022, EVRAZ plc, the ultimate parent of EVRAZ North America, was sanctioned by the United Kingdom. On the same date, the UK HM Treasury’s Office of Financial Sanctions Implementation issued a general license permitting EVRAZ North America to continue business operations. Since sanctions were imposed, EVRAZ North America has operated as a fully independent entity separate from EVRAZ plc.