Atlas Holdings has successfully acquired EVRAZ North America, renaming it Orion Steel Companies, and has appointed former U.S. Steel executive Doug Matthews as its new Chief Executive Officer.
In a significant move set to reshape the North American steel landscape, Atlas Holdings announced the successful completion of its acquisition of EVRAZ Inc. NA and EVRAZ Inc. NA Canada, now officially forming the Orion Steel Companies. This new entity will be headed by Doug Matthews, a seasoned veteran from U.S. Steel as the Chief Executive Officer.
The agreement to acquire EVRAZ North America, a prominent producer of engineered steel products serving critical sectors like rail, energy, infrastructure, and industrial markets in the United States and Canada, was initially announced in June. With the completion of this acquisition, Orion Steel is poised to become a central and well-capitalized player in the North American market, reinforcing the economic and security interests of both nations through substantial local production.
The newly formed Orion Steel Companies encompass a rich legacy of steel operations, with names inspired by their historical roots: Rocky Mountain Steel Mills in Pueblo, Colorado; Oregon Steel Mills in Portland, Oregon; and Interpro Pipe and Steel in Regina, Saskatchewan, with additional locations across Alberta, Canada. This collective entity proudly employs 3,400 highly skilled associates across two electric arc furnace steel facilities, 12 steel product mills, and 17 scrap recycling facilities. Their combined steelmaking capacity stands at an impressive 2.3 million tons, with a finished steel capacity, including tubular products, of 3.5 million tons. Notably, Orion Steel products consistently boast a remarkable 98%+ recycled scrap material content. Rocky Mountain Steel Mills, in particular, holds the distinction of being the world’s largest solar-powered steel mill and the largest rail supplier in North America.
Doug Matthews, bringing three decades of invaluable experience in the steel industry, expressed immense enthusiasm for this unique opportunity. "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," stated Matthews. He succeeds Skip Herald, who adeptly steered the company through considerable challenges since 2019 and will continue to contribute his expertise as a member of the Orion Steel Board of Directors.
During his distinguished 33-year tenure at U.S. Steel, Matthews played a pivotal role in revitalizing the company's commercial strategy and operations, ultimately ascending to the position of Chief Commercial & Technology Officer, Tubular and Mining Solutions. His career progression from plant leadership in Pittsburgh, Pennsylvania, to an executive team member, underscores his profound understanding of the industry from the ground up.
