PUEBLO — The parent company EVRAZ, which also owns the EVRAZ Rocky Mountain Steel company located in Pueblo, announced earlier today that it plans to begin the process of 'soliciting proposals for the acquisition of its North American subsidiaries.' Essentially, the company is looking for buyers for their properties.
According to a press release, the company will not comment further on the process that is being handled under the Office of Financial Sanctions Implementation.
The company is under sanctions due to Russian billionaire Roman Abramovich's financial stake in the company.
The company, formerly known as the Colorado Fuel and Iron Company was established in 1881 and today produces rail, seamless pipe, rod, and coiled reinforcing bar. According to our source at the Pueblo Economic Development Corp, the company currently employs between 800-1000 employees out of Pueblo. There are more than 3,200 employees in all of Evraz's North American operations.
The company reports $2.4 billion in sales for 2021.
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