Atlas Holdings completes acquisition of Evraz North America

WATCH: Connecticut-based Atlas Holdings has completed its buyout of Evraz North America, which includes control over the Regina steel plant.

Regina’s steel plant will be going by a different name from now on – as Atlas Holdings has completed its acquisition of Evraz North America – forming a new enterprise called “Orion Steel.”

The acquisition was initially announced in June – while competition of the deal was revealed on Thursday.

The Orion Steel group of companies also owns and operates Rocky Mountain Steel Mills, Interpro Pipe and Steel and Oregon Steel Mills.

• Connecticut company to acquire EVRAZ‘s North American operations, including Regina’s steel plant

Collectively, the companies employ 3,400 workers across 12 mills, 17 scrap recycling facilities, and two electric arc furnace steel facilities. The steelmaking capacity of the facilities total 2.3 million tons while the finished steel capacity, including tubular products, totals 3.5 million tons.

Former U.S. Steel executive Doug Matthews will serve as CEO of the company.

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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,” Matthews said in the announcement.

“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.”

Atlas Holdings was founded in 2002 and is headquartered in Greenwich, Connecticut. Atlas and its affiliates own and operate 29 companies, employing 60,000 workers across 375 facilities around the world.