Commercial Metals Company is a steel and metal manufacturer headquartered in Irving, Texas. The company operates four divisions: Americas Recycling, Americas Mills, Americas Fabrication, and International Mill,[3] with locations in the U.S., Europe and Asia.
In the United States, it owns 41 scrap metal recycling facilities with a total annual capacity of 4.9 million tons, six electric arc furnace mini mills and two electric arc furnace micro mills and two re-rolling mills with a total annual capacity of 5.4 million tons, and steel fabrication facilities with a total annual capacity of 2.4 million tons. In Poland, it owns 12 scrap metal recycling facilities with a total annual capacity of 0.6 million tons, five steel fabrication facilities with a total annual capacity of 0.3 million tons, and a mini mill in Zawiercie with an annual capacity of 1.3 million tons.[2] A sixth facility is planned to open in West Virginia in 2025.
In 1915, Russian immigrant Jacob Feldman founded American Iron & Metal Company, a scrap trading company.[4]
In 1994, it acquired Owen Steel Company in an $87 million transaction.[5]
In 2002, the company sold its heavy structural fabrication assets of SMI-Owen Steel, resulting in $20 million of proceeds.[6] In June 2011, the company acquired G.A.M. Steel Pty. Ltd, based in Melbourne, Australia.[7]
In November 2011, Carl Icahn offered to buy the company for $15 per share,[8] which the company rejected the following month.[9] By January 2012, Icahn withdrew the offer for lack of shareholder support.[10]
In October 2016, it acquired the steel fabrication business of Associated Steel Workers, Limited.[11]
In August 2017, the company sold its CMC Cometals Division for $179 million.[12]
In November 2018, the company acquired assets from Gerdau for $600 million.[13][14]
In 2022, Commercial Metals announced a new $450 million steel recycling plant to begin operating in Martinsburg, West Virginia in 2025. The facility will manufacture construction rebar that will operate using green technology.[15]
^"Commercial Metals Company Completes Acquisition of Australian Long Products Distributor G.A.M. Steel Pty. Ltd" (Press release). PR Newswire. June 3, 2011.
^"Icahn Offers to Buy Metals Company". The New York Times. November 28, 2011.
^SCOTT, MARK (December 5, 2011). "Commercial Metals Rejects Icahn's Bid". The New York Times.
^DE LA MERCED, MICHAEL J. (January 11, 2012). "Icahn Drops Bid for Commercial Metals". The New York Times.
^"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.
^"Commercial Metals Company Announces Completion of Sale of CMC Cometals Division" (Press release). PR Newswire. August 31, 2017.
^"Irving-based steel manufacturer Commercial Metals plans $600 million acquisition to double capacity" The Dallas Morning News, January 2, 2018.
^"Commercial Metals Company Completes Acquisition Of Certain U.S. Rebar Assets From Gerdau" (Press release). PR Newswire. November 5, 2018.
^"West Virginia announces $450M steel plant in Berkeley County", The Parkersburg News and Sentinel, December 9, 2022.
This United States manufacturing company–related article is a stub. You can help Wikipedia by expanding it.
commercial, metals, company, steel, metal, manufacturer, headquartered, irving, texas, company, operates, four, divisions, americas, recycling, americas, mills, americas, fabrication, international, mill, with, locations, europe, asia, typepublic, companytrade. Commercial Metals Company is a steel and metal manufacturer headquartered in Irving Texas The company operates four divisions Americas Recycling Americas Mills Americas Fabrication and International Mill 3 with locations in the U S Europe and Asia Commercial Metals CompanyTypePublic companyTraded asNYSE CMCS amp P 400 componentIndustryMetalsFounded1915 108 years ago 1915 HeadquartersIrving Texas United StatesKey peopleBarbara R Smith President amp Chairman amp CEOPaul J Lawrence CFOTracy L Porter COOProductsSteelRevenue 8 91 billion FY 2022 Net income 1 22 billion FY 2022 Total assets 6 24 billion FY 2022 Total equity 3 29 billion FY 2022 Number of employees12 483 2022 Websitewww wbr cmc wbr comFootnotes references 1 2 In the United States it owns 41 scrap metal recycling facilities with a total annual capacity of 4 9 million tons six electric arc furnace mini mills and two electric arc furnace micro mills and two re rolling mills with a total annual capacity of 5 4 million tons and steel fabrication facilities with a total annual capacity of 2 4 million tons In Poland it owns 12 scrap metal recycling facilities with a total annual capacity of 0 6 million tons five steel fabrication facilities with a total annual capacity of 0 3 million tons and a mini mill in Zawiercie with an annual capacity of 1 3 million tons 2 A sixth facility is planned to open in West Virginia in 2025 Contents 1 History 2 See also 3 References 4 External linksHistory EditIn 1915 Russian immigrant Jacob Feldman founded American Iron amp Metal Company a scrap trading company 4 In 1994 it acquired Owen Steel Company in an 87 million transaction 5 In 2002 the company sold its heavy structural fabrication assets of SMI Owen Steel resulting in 20 million of proceeds 6 In June 2011 the company acquired G A M Steel Pty Ltd based in Melbourne Australia 7 In November 2011 Carl Icahn offered to buy the company for 15 per share 8 which the company rejected the following month 9 By January 2012 Icahn withdrew the offer for lack of shareholder support 10 In October 2016 it acquired the steel fabrication business of Associated Steel Workers Limited 11 In August 2017 the company sold its CMC Cometals Division for 179 million 12 In November 2018 the company acquired assets from Gerdau for 600 million 13 14 In 2022 Commercial Metals announced a new 450 million steel recycling plant to begin operating in Martinsburg West Virginia in 2025 The facility will manufacture construction rebar that will operate using green technology 15 See also EditList of steel producersReferences Edit Commercial Metals Share Holder Equity 2010 2022 CMC Macrotrends a b Commercial Metals Company Form 10 K Annual Report for the Fiscal Year Ended August 31 2020 U S Securities and Exchange Commission Commercial Metals Forbes December 29 2022 Commercial Metals Company Encyclopedia com May 11 2018 Commercial Metals to Acquire Owen Steel The New York Times Bloomberg News September 28 1994 Commercial Metals Company 2002 Annual Report PDF Press release Commercial Metals Company Commercial Metals Company Completes Acquisition of Australian Long Products Distributor G A M Steel Pty Ltd Press release PR Newswire June 3 2011 Icahn Offers to Buy Metals Company The New York Times November 28 2011 SCOTT MARK December 5 2011 Commercial Metals Rejects Icahn s Bid The New York Times DE LA MERCED MICHAEL J January 11 2012 Icahn Drops Bid for Commercial Metals The New York Times 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 Commercial Metals Company Announces Completion of Sale of CMC Cometals Division Press release PR Newswire August 31 2017 Irving based steel manufacturer Commercial Metals plans 600 million acquisition to double capacity The Dallas Morning News January 2 2018 Commercial Metals Company Completes Acquisition Of Certain U S Rebar Assets From Gerdau Press release PR Newswire November 5 2018 West Virginia announces 450M steel plant in Berkeley County The Parkersburg News and Sentinel December 9 2022 This United States manufacturing company related article is a stub You can help Wikipedia by expanding it vteExternal links EditBusiness data for Commercial Metals Company BloombergGoogleSEC filingsYahoo Retrieved from https en wikipedia org w index php title Commercial Metals Company amp oldid 1131752820, wikipedia, wiki, book, books, library,
