Commercial Metals Company Acquires Rebar Steel Mills
Commercial Metals Company (CMC) completed the acquisition of 33 rebar fabrication facilities and four steel mills in the U.S. (located in Knoxville, Tenn.; Jacksonville, Fla.; Sayreville, N.J.; and Rancho Cucamonga, Calif.) from Gerdau S.A. for $600 million. The mills have a combined annual mill rolling capacity of 2.5 million tons. CMC now has approximately 7.2 million tons of global melt capacity.
CMC and its subsidiaries manufacture, recycle and market steel and metal products, related materials and services through a network of facilities that includes eight electric-arc-furnace (EAF) mini mills, two EAF micro-mills, a re-rolling mill, steel fabrication and processing plants, construction-related product warehouses, and metal recycling facilities in the U.S. and Poland.