In a major shake-up for one of southern Colorado’s foundational industries, Evraz North America has agreed to sell its Pueblo steel mill—along with additional operations across North America—to private equity firm Atlas Holdings. The deal, valued at up to $500 million, is expected to close by late 2025, pending regulatory approvals.

The Pueblo mill, a legacy site dating back to 1881, has been a fixture of the regional economy for well over a century. Today, it stands at the forefront of sustainable manufacturing as the world’s largest solar-powered steel mill, producing rails used across North America’s railways. It employs approximately 1,100 workers.

Evraz began operating independently from its UK-based parent company, Evraz PLC, in 2022 after sanctions targeting Russian oligarch Roman Abramovich cast a shadow over the company’s global operations. The Pueblo facility remained largely unaffected, continuing production while gaining distinction for its renewable-energy integration.

Atlas Holdings, known for acquiring and revitalizing industrial and manufacturing operations, aims to sustain and expand the mill’s output. “We see long-term potential here—not just in steel production, but in advancing America’s domestic supply chains,” an Atlas spokesperson said.

Reassurances have come from both company and labor leaders. The United Steelworkers union confirmed that their contract contains a successorship clause, ensuring that the incoming ownership honors the current labor agreement. State and local officials have also expressed optimism about the new partnership.

Colorado Governor Jared Polis called the transition “a vote of confidence in our workforce and renewable future,” while Pueblo Mayor Nick Gradisar said he looks forward to “a new era of stability and innovation for our iconic steel mill.”

The acquisition includes Evraz facilities in Oregon, Saskatchewan, and Alberta, further broadening Atlas Holdings’ North American footprint in the steel sector.

This sale signals more than a change in ownership—it reflects the evolving identity of American industry: rooted in history, powered by innovation, and redefined by resilience.

©️ The Rocky Mountain Dispatch LLC. 2025