Atlas Completes Acquisition of Steelmaker EVRAZ North America; Forms Orion Steel and Appoints Doug Matthews CEO
Orion Steel Companies is Comprised of Rocky Mountain Steel Mills, Oregon Steel Mills, and Interpro Pipe and Steel
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GREENWICH, Conn. — Atlas Holdings ('Atlas') today announced the formation of the Orion Steel Companies ('Orion Steel' or 'the Companies') following the completion of the previously announced acquisition of EVRAZ Inc. NA and EVRAZ Inc. NA Canada and their respective subsidiaries (together, 'EVRAZ North America'). Leading the newly created Orion Steel as Chief Executive Officer is former U.S. Steel executive Doug Matthews.
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In June, Atlas announced an agreement to acquire EVRAZ North America, a leading producer of engineered steel products in the United States and Canada for rail, energy, infrastructure and industrial end markets. Matthews succeeds Skip Herald, who guided the company through significant challenges since 2019 and will continue his service as a member of the Orion Steel Board of Directors.
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Orion Steel includes Rocky Mountain Steel Mills in Pueblo, Colorado; Oregon Steel Mills in Portland, Oregon; and Interpro Pipe and Steel in Regina, Saskatchewan and locations across Alberta, Canada. Each of the companies' names were inspired by the legacies of their steel operations, honoring their roots while beginning a new era. Collectively, the Companies employ 3,400 skilled associates across two electric arc furnace steel facilities, 12 steel product mills and 17 scrap recycling facilities and have a steelmaking capacity of 2.3 million tons and finished steel capacity, including tubular products, of 3.5 million tons. Orion Steel products regularly contain 98%+ recycled scrap material and Rocky Mountain Steel is the world's largest solar-powered steel mill and the largest rail supplier in North America.
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'As a well-capitalized strategic supplier, Orion Steel is poised to become a central player in the North American market, helping to ensure economic and security interests of the United States and Canada are advanced through significant, local production,' said Doug Matthews, CEO of Orion Steel. 'I've been in this business for three decades and I am completely energized by this unique opportunity. This is a historic operation heading into a bold new chapter.
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'I've seen the look in steelworkers' eyes when they push an operation to new heights. We are going to see that same look from our team members across all Orion Steel facilities as we write the next chapter of this essential North American steelmaker,' added Matthews. 'We have a partner in Atlas with a stellar record in the United States and Canada of building great industrial companies over the long-term. And Atlas is committed to ensuring we have the human and financial capital we need, and the strategic guidance, to achieve lasting success.'
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'We were looking for the right leader to guide this business into its next chapter — someone with deep industry knowledge and a proven track record,' said Atlas Partner Sam Astor. 'Doug offers more than just decades of experience in operations, sales, marketing and supply chain management. He brings a forward-thinking, hands-on approach that helped transform U.S. Steel's commercial strategy and operations, and he has the deep belief that the heart of this business is the people on the ground, running the mills day in and day out —and he works to empower them to perform at their best.'
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In his 33 years with U.S. Steel, Matthews played an essential role in revitalizing its commercial strategy and operations, ultimately serving as Chief Commercial & Technology Officer, Tubular and Mining Solutions. He joined the company in 1988, rising through company ranks from plant leadership in Pittsburgh, Pennsylvania to operations leadership as a member of the executive team.
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'This is a critical time in the global steel market. We're ready to meet the challenges and seize the opportunities, and we are excited to be playing a role in ensuring the long-term of strategic steel production in the United States and Canada,' Astor added.
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About Orion Steel Companies
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Orion Steel owns and operates Rocky Mountain Steel Mills, Interpro Pipe and Steel, and Oregon Steel Mills. As a leading North American producer with a more than 150 year legacy, the Orion companies manufacture engineered steel products for rail, energy and industrial end markets, delivering a broad selection of specialty steel solutions to meet customers' demands in the United States and Canada. Learn more at orionsteel.com.
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About Atlas Holdings
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Headquartered in Greenwich, Connecticut and founded in 2002, Atlas and its affiliates own and operate 29 companies which employ more than 60,000 associates across 375 facilities worldwide. Atlas operates in sectors such as automotive supply, building materials, capital equipment, construction services, food manufacturing and distribution, metals processing, packaging, paper, power generation, printing, pulp, supply chain management and wood products. Atlas' companies together generate more than $20 billion in revenues annually. To learn more, please visit atlasholdingsllc.com.
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