September 26, 2022

Rocky Daily News

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Evraz is selling its Pueblo and North American operations as it faces sanctions for ties with Russia

1 min read

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One of Pueblo’s biggest employers, Evraz Plc, is looking to get out of North America, which includes ending its ownership in steel mills in the city.

The company is one of Russia’s largest steel and mining companies and acquired Pueblo’s mill in 2007. But since Russia invaded Ukraine in February, the company has come under scrutiny by the U.S. and NATO. On Wednesday, it said it would solicit “proposals for the acquisition of its North American subsidiaries” because a sale would allow it “to unlock the stand-alone value of the North America business.”

The London-based company said it would not comment further. Its Evraz North American operations, which includes locations in Canada, produces steel for rail lines and the energy, industrial and construction markets. 

The news,…

Tamara Chuang

2022-08-10 17:04:46

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