Canadian steel products maker IPSCO Inc. confirmed Thursday it's in talks that could lead to the possible sale of the company.

The company said it made the statement "in response to market rumors and noting recent appreciation in its stock price," but declined to release any other details.

In morning trading, IPSCO shares surged $15, or 11.5 percent, to $145.90 on the New York Stock Exchange – having earlier hit a new 52-week high of $149.30, easily eclipsing the stock's previous year-high of $134.37 set on Tuesday.

Earlier Thursday, a business daily reported that Evraz Group SA, Russia's biggest steelmaker, is in talks to acquire IPSCO. Evraz's management held acquisition talks several weeks ago with IPSCO, the Vedomosti paper said, citing two unnamed businessmen familiar with Evraz's shareholders.

Evraz officials have declined to comment on the report.

In January, Evraz completed the takeover of Oregon Steel for $2.3 billion, making it one of the largest investments in the United States by a Russian company. Evraz already owns steelworks in the Czech Republic and Italy.

IPSCO produces energy tubulars and steel plate in North America with an annual steelmaking capacity of four million tons. With the acquisition of NS Group, IPSCO now operates four steel mills, 11 pipe mills, and scrap processing centers and product finishing facilities in 25 locations across the U.S. and Canada. IPSCO also provides connections for oil and gas drilling and production.