Commercial Metals Company

Commercial Metals Company (CMC), headquartered in Irving, Texas, is a producer of rebar and related products for the construction industry. Along with Nucor, it is one of two primary suppliers of steel used to reinforce concrete in buildings, bridges, roads, and infrastructure in the U.S. In the United States, it owns 43 scrap metal recycling facilities primarily in the southeast and central U.S. with a total annual capacity of 5.1 million tons, six electric arc furnace mini mills and three electric arc furnace micro mills and one re-rolling mill with a total annual capacity of 6.1 million tons, and 55 steel fabrication facilities with a total annual capacity of 2.1 million tons. In Poland, it owns 12 scrap metal recycling facilities with a total annual capacity of 0.5 million tons, five steel fabrication facilities with a total annual capacity of 0.4 million tons, and a mini mill in Zawiercie with an annual capacity of 1.6 million tons.[1] A rebar manufacturing plant with 500,000 tons of annual capacity, is under construction in Martinsburg, West Virginia and is expected to open in late 2025.[2] The company also owns Tensar, a producer of foundation systems used for the construction of roadways, public infrastructure, and industrial facilities.[1]

Commercial Metals Company
TypePublic company
NYSE: CMC
S&P 400 component
IndustryMetals
Founded1915 (1915)
HeadquartersIrving, Texas,
United States
Key people
Barbara R. Smith, Chairman
Peter R. Matt, President & CEO
Paul J. Lawrence, CFO
Tracy L. Porter, COO
ProductsSteel
RevenueDecrease $8.799 billion (FY 2023)
Decrease $859 million (FY 2023)
Total assetsIncrease $6.639 billion (FY 2023)
Total equityIncrease $4.120 billion (FY 2023)
Number of employees
13,022 (2023)
Websitewww.cmc.com
Footnotes / references
[1]

The company was founded in 1915 by Russian immigrant Jacob Feldman as American Iron & Metal Company, a scrap trading company.[3]

Acquisitions and divestitures
Date Acquisition / Divestiture Company Price Ref(s).
September 1994 Acquisition Owen Steel Company $87 million [4]
March 2007 Acquisition Assets of Nicholas J. Bouras Inc. $63 million [5]
April 2012 Divestiture Heavy fabrication plant of SMI-Owen Steel $20 million [6]
June 2011 Acquisition G.A.M. Steel Pty. Ltd of Australia Undisclosed [7]
October 2013 Divestiture Howell Metal Company $58.5 million [8]
October 2016 Acquisition Steel fabrication business of Associated Steel Workers, Limited (steel fabrication facility in Kapolei, Hawaii) Undisclosed [9]
August 2017 Divestiture CMC Cometals Division $179 million [10]
November 2018 Acquisition 33 rebar manufacturing facilities and 4 EAF mini mills from Gerdau $600 million [11][12]
January 2022 Divestiture 95-acre land parcel in Rancho Cucamonga, California; former site of steel mill acquired from Gerdau $313 million [13][14]
April 2022 Acquisition Tensar $550 million [15]
September 2022 Acquisition Advanced Steel Recovery Undisclosed [16]
November 2022 Acquisition Galveston area metals recycling facility Undisclosed [17]
March 2023 Acquisition Roane Metals Group LLC Undisclosed [18]
July 2023 Acquisition EDSCO Fasteners LLC Undisclosed [19]

See also

References
  1. "Commercial Metals Company Form 10-K Annual Report for the Fiscal Year Ended August 31, 2023". U.S. Securities and Exchange Commission.
  2. "West Virginia announces $450M steel plant in Berkeley County". The Parkersburg News and Sentinel. December 9, 2022.
  3. "Commercial Metals Company". Encyclopedia.com.
  4. "Commercial Metals to Acquire Owen Steel". The New York Times. Bloomberg News. September 28, 1994.
  5. "Commercial Metals to buy Bouras assets for $63M". American City Business Journals. March 5, 2007.
  6. "Commercial Metals sells SMI-Owen plant". American City Business Journals. March 28, 2002.
  7. "Commercial Metals Company Completes Acquisition of Australian Long Products Distributor G.A.M. Steel Pty. Ltd" (Press release). PR Newswire. June 3, 2011.
  8. "Commercial Metals Company Announces Sale Of 100% Ownership Interests In Howell Metal Company" (Press release). PR Newswire. October 17, 2013.
  9. "Commercial Metals Company Signs Definitive Asset Purchase Agreement for Purchase of Steel Fabrication Business of Associated Steel Workers, Limited" (Press release). PR Newswire. October 26, 2016.
  10. "Commercial Metals Company Announces Completion of Sale of CMC Cometals Division" (Press release). PR Newswire. August 31, 2017.
  11. "Irving-based steel manufacturer Commercial Metals plans $600 million acquisition to double capacity". The Dallas Morning News. January 2, 2018.
  12. "Commercial Metals Company Completes Acquisition Of Certain U.S. Rebar Assets From Gerdau" (Press release). PR Newswire. November 5, 2018.
  13. "Commercial Metals Company Completes Southern California Land Sale" (Press release). PR Newswire. January 4, 2022.
  14. Bach, Trevor (January 4, 2022). "Ares buys site of shuttered steel mill in Inland Empire". The Real Deal.
  15. "Commercial Metals Completes Acquisition of Tensar Corporation" (Press release). PR Newswire. April 25, 2022.
  16. "Commercial Metals Company Acquires Advanced Steel Recovery" (Press release). PR Newswire. September 15, 2022.
  17. "Commercial Metals Company Acquires Texas Metal Recycling Facility" (Press release). PR Newswire. November 15, 2022.
  18. "COMMERCIAL METALS COMPANY ACQUIRES TENNESSEE METAL RECYCLING COMPANY" (Press release). PR Newswire. March 3, 2023.
  19. "Commercial Metals Company Acquires EDSCO Fasteners LLC" (Press release). PR Newswire. July 13, 2023.
  • Business data for Commercial Metals Company:
This article is issued from Wikipedia. The text is licensed under Creative Commons - Attribution - Sharealike. Additional terms may apply for the media files.