Evraz seeking potential buyers for North American operations
Evraz plc has begun the process of soliciting proposals for the possible sale of its North American subsidies, which includes Evraz Steel in Regina.
In a release, Evraz said the sale would allow them to “unlock the stand-alone value of the North American business.”
Evraz North America (ENA) has a steelmaking capacity of 2.3 million tons and a finished steel capacity of 3.5 million tons.
Evraz plc said it will not receive any income from activities of Evraz North America in 2022.
Currently, Evraz North America operates two EAF-based steel facilities, four rolling mills and eight tubular mills along with 17 scrap recycling facilities.
The solicitation process is currently being conducted by the Office of Financial Sanctions Implementation (OFSI).
The U.K. Government announced sanctions on Evraz plc in May, barring any citizens or companies from doing business with them.
The Russian steelmaker completed its acquisition of IPSCO Inc.’s plate and pipe business in Canada in June 2008 for approximately USD$2.9 billion, that included the steel plant in Regina.
CTVNews.ca Top Stories
What to know about avian influenza in dairy cows and the risk to humans
Why is H5N1, or bird flu, a concern, how does it spread, and is there a vaccine? Here are the answers to some frequently asked questions about avian influenza.
'I was scared': Ontario man's car repossessed after missing two repair loan payments
An Ontario man who took out a loan to pay for auto repairs said his car was repossessed after he missed two payments.
opinion The special relationship between King Charles and the Princess of Wales
Royal commentator Afua Hagan writes that when King Charles recently admitted Catherine to the Order of the Companions of Honour, it not only made history, but it reinforced the strong bond between the King and his beloved daughter-in-law.
Man convicted of involuntary manslaughter in father's drowning, told police he was baptizing him
A Massachusetts man who told police he was exorcising a demon and performing a baptism when he shoved his father's head under water multiple times has been convicted of involuntary manslaughter in his death.
New Norad commander calls Canada's defence policy update 'very encouraging'
American troops will be spending more time training in the Far North, the new commander of Norad says, a strategy that fits 'hand-in-glove' with Canada's renewed focus on Arctic defence.
$70M Lotto Max winners kept prize a secret from family for 2 months
During a special winner celebration near their hometown, Doug and Enid shared the story of how they discovered they were holding a Lotto Max ticket worth $70 million and how they kept this huge secret for so long.
Are Canadians getting sick from expired food?
A new survey by Dalhousie University's Agri-Food Analytics Lab asked Canadians about their food consumption habits amid rising prices.
Documents reveal Ottawa's efforts to get Loblaw, Walmart on board with grocery code
It was evident to the federal government as early as last fall that Loblaw and Walmart might be holdouts to the grocery code of conduct, jeopardizing the project's success.
Hubble Space Telescope marks 34 years with new portrait of a 'cosmic dumbbell'
The Hubble Space Telescope has captured a stunning new image of the glowing gas ejected from a dying star, which in this case happens to resemble a 'cosmic dumbbell.'