Atlas Holdings has formed Orion Steel Companies following the completion of its acquisition of the business divisions of Evraz North America. The acquisition, completed on 31st July 2025, includes an immediate payment of €43.2 million (US$50 million) and up to €389 million in contingent payments, subject to the achievement of certain milestones. The acquired sites, including the Rocky Mountain Steel Mills in Pueblo, Colorado, the Oregon Steel Mills in Portland, Oregon, and Interpro Pipe and Steel in Regina in the Canadian provinces of Saskatchewan and Alberta, employ a total of 3,400 people and operate two electric steel mills, 12 rolling mills and 17 scrap recycling facilities. Rocky Mountain Steel is North America's largest rail supplier. The transaction was completed in accordance with a licence granted by the UK and in compliance with sanctions against Evraz. Doug Matthews, former manager of US Steel, will take over the management of Orion Steel.
