The United Steelworkers union (USW) says it fully supports the sale of EVRAZ North America to Connecticut based Atlas Holdings, which includes the steel plant in Regina.

In a news release on Friday, Atlas said it anticipates the deal to close in the second half of 2025.

The steelworkers’ union said that the announcement of the acquisition provides more clarity for its members moving forward after a challenging time.

“After a long period of uncertainty following sanctions on the company’s former owner, this announcement provides a path forward for the thousands of workers across North America and brings new opportunity for investment and growth in Canada’s steel industry,” the union said in a news release on Monday.

Russian-owned EVRAZ was sanctioned in 2022 shortly after Russia first invaded Ukraine.

Mike Day, president of USW Local 5890, which represents steelworkers in Regina said the past few years have been difficult for its members who continued to work through uncertainty with professionalism and pride.

“We’re hopeful this marks the beginning of a long and positive relationship with Atlas. Our members are ready to continue doing what they do best by producing high-quality Canadian steel that supports our economy and our communities,” Day said in the release.

USW says it’s committed to working with the new ownership group and all levels of government to ensure that the Regina and Calgary facilities continue to play critical roles in the provinces’ economic future.

USW, which represents 225,000 steelworkers in Canada, says it will engage closely with Atlas and all stakeholders in the coming months to ensure a smooth transition, prioritize job security and advocate for policies that support a strong domestic steel sector.

Along with Regina, EVRAZ North America operates in Alberta, Colorado and Oregon.