Atlas Holdings, a U.S. industrial investment company, announced it has completed the purchase of EVRAZ Inc. North America’s steel assets, forming a new Orion Steel Companies group . The deal combines three key mills – Rocky Mountain Steel (Colorado), Oregon Steel Mills (Portland, Oregon) and Interfor Pipe & Steel (Saskatchewan and Alberta) – into Orion Steel, led by former U.S. Steel executive Doug Matthews . Orion Steel will operate two electric arc furnaces, 12 rolling mills and 17 scrap-processing facilities, giving it capacity to produce up to 2.3 million tonnes of steel and 3.5 million tonnes of finished products annually . Notably, over 98% of Orion’s steel output will come from scrap metal, making it a highly recycled-steel operation . Rocky Mountain Steel, part of the group, is already the world’s largest solar-powered steel mill and a major rail-rail producer. Atlas Holdings partners emphasized that Orion Steel aims to supply high-end products (railway, energy and industrial steel) and bolster North American steel autonomy . Matthews stated Orion Steel is “well-capitalized” to strengthen U.S. and Canadian economic and energy security . (The acquisition follows a 2022 UK license clearing EVRAZ’s sale of its North American assets to Atlas.)
