Global News

Breaking news & current latest Canadian news headlines; national weather forecasts & predictions, local news videos, money and financial news; sports stats and scores.

https://globalnews.ca/

Evraz seeking buyers for North American operations

Temporary layoff were announced for around 40 to 50 employees at the Evraz steel plant in Regina
View image in full screen

EVRAZ plc has announced it is launching the process of soliciting proposals for the acquisition of its North American subsidiaries.

Taryn Snell / Global News

Evraz plc, a Russian steelmaker, has officially started soliciting proposals for the acquisition of its north American subsidiaries, which includes Evraz Steel in Regina.

In a press release Wednesday, Evraz said the sale would allow them to “unlock the stand-alone value of the North America business.”

Currently, Evraz North America (ENA) operates two EAF-based steel facilities, four rolling mills and eight tubular mills along with 17 scrap recycling facilities.

ENA has steelmaking capacity of 2.3 million tons and finished steel capacity of 3.5 million tons.

The solicitation process is being conducted by the Office of Financial Sanctions Implementation (OFSI).

In 2022, EVRAZ plc said it did not receive and does not plan to receive any income from the activities of ENA.

The U.K. Government announced sanctions on Evraz plc in May, which has prevented any citizen or companies from doing business with them.

The company 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.

© 2022 Global News, a division of Corus Entertainment Inc.

Щороку ми починаємо зі списку трендів дизайну, які, на думку експертів, домінуватимуть у проектах наступного року. Безперечно, в таких прогнозах бу...
Останні новини
Future Wars: Is space the new frontier for war?

Future Wars: Is space the new frontier for war?

Space, they say, is the final frontier.  And historically, whenever humans have explored what they thought was unchartered territory, war and conflict have not been far behind. While the last century may be seen as the golden age of space explorat...

Authorities Believe Oakland School Shooting Committed By Two Suspects.

Authorities Believe Oakland School Shooting Committed By Two Suspects.

Police are still searching for at least two suspects in connection with a shooting at an Oakland school that injured six people. KNTV’s Velena Jones reports. » Subscribe to NBC News: » Watch more NBC video: NBC News Digital is a collection of inno...

Why the Russians might use nuclear weapons  - Ben Domenech Podcast.

Why the Russians might use nuclear weapons - Ben Domenech Podcast.

On this episode, Ben sits down with Rebeccah Heinrichs, a Senior Fellow at Hudson Institute specializing in US national defense policy with a focus on strategic deterrence. Ben and Rebecca address the question of whether Russian President Vladimir...

Florida Keys Family Rescues Baby Turtle From Hurricane Ian Debris.

Florida Keys Family Rescues Baby Turtle From Hurricane Ian Debris.

A Florida Keys family rescued a baby turtle from debris as a result of Hurricane Ian. The family gave the turtle over to an animal hospital that will release him back into the wild. » Subscribe to NBC News: » Watch more NBC video: NBC News Digital...

Tucker Carlson: Why didn’t we know about this? #shorts.

Tucker Carlson: Why didn’t we know about this? #shorts.

Fox News host Tucker Carlson highlighted Vice President Kamala Harris’s latest gaffe where she said the U.S. has a ‘strong alliance’ with North Korea. #foxnews #shorts Subscribe to Fox News! Watch more Fox News Video: Watch Fox News Channel Live: ...

Joel Klatt: This will change the landscape of College Football - Will Cain Podcast.

Joel Klatt: This will change the landscape of College Football - Will Cain Podcast.

Then, Will sits down with FOX Sports’ lead college football game analyst, Joel Klatt, to discuss his hit new podcast, The Joel Klatt Show: A College Football Podcast, and why he is on a mission to be the fairest voice in the game of college footba...