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. The company also owns Tensar, a producer of foundation systems used for the construction of roadways, public infrastructure, and industrial facilities.[1]
 | |
| Company type | Public company |
|---|---|
| NYSE: CMC S&P 400 component | |
| Industry | Metals Steel |
| Founded | 1915 |
| Headquarters | Irving, Texas, |
Key people | Barbara R. Smith, Chairman Peter R. Matt, President & CEO Paul J. Lawrence, CFO Tracy L. Porter, COO |
| Products | Steel |
| Revenue |  $8.799 billion (FY 2023) |
| $859 million (FY 2023) | |
| Total assets |  $6.639 billion (FY 2023) |
| Total equity | $4.120 billion (FY 2023) |
Number of employees | 13,022 (2023) |
| Website | www |
| Footnotes / references [1] | |
CMC operates 212 facilities in the United States and Poland, including electric arc furnace mini-mills, scrap recycling facilities, and steel fabrication plants.[1] In its fiscal 2023 year, it shipped 6.1 million short tons of steel to external customers; 84% of its sales were in the United States and 16% of its sales were from its facilities in Poland.[1]
The company was founded in 1915 by Russian immigrant Jacob Feldman as American Iron & Metal Company, a scrap trading company.[2]
Acquisitions and divestitures
edit| Date | Acquisition / Divestiture | Company | Price | Ref(s). |
|---|---|---|---|---|
| September 1994 | Acquisition | Owen Steel Company | $87 million | [3] |
| March 2007 | Acquisition | Assets of Nicholas J. Bouras Inc. | $63 million | [4] |
| April 2012 | Divestiture | Heavy fabrication plant of SMI-Owen Steel | $20 million | [5] |
| June 2011 | Acquisition | G.A.M. Steel Pty. Ltd of Australia | Undisclosed | [6] |
| October 2013 | Divestiture | Howell Metal Company | $58.5 million | [7] |
| October 2016 | Acquisition | Steel fabrication business of Associated Steel Workers, Limited (steel fabrication facility in Kapolei, Hawaii) | Undisclosed | [8] |
| August 2017 | Divestiture | CMC Cometals Division | $179 million | [9] |
| November 2018 | Acquisition | 33 rebar manufacturing facilities and 4 EAF mini mills from Gerdau | $600 million | [10][11] |
| January 2022 | Divestiture | 95-acre land parcel in Rancho Cucamonga, California; former site of steel mill acquired from Gerdau | $313 million | [12][13] |
| April 2022 | Acquisition | Tensar | $550 million | [14] |
| September 2022 | Acquisition | Advanced Steel Recovery | Undisclosed | [15] |
| November 2022 | Acquisition | Galveston area metals recycling facility | Undisclosed | [16] |
| March 2023 | Acquisition | Roane Metals Group LLC | Undisclosed | [17] |
| July 2023 | Acquisition | EDSCO Fasteners LLC | Undisclosed | [18] |
See also
editReferences
edit- ^ a b c d "Commercial Metals Company Form 10-K Annual Report for the Fiscal Year Ended August 31, 2023". U.S. Securities and Exchange Commission.
- ^ "Commercial Metals Company". Encyclopedia.com.
- ^ "Commercial Metals to Acquire Owen Steel". The New York Times. Bloomberg News. September 28, 1994.
- ^ "Commercial Metals to buy Bouras assets for $63M". American City Business Journals. March 5, 2007.
- ^ "Commercial Metals sells SMI-Owen plant". American City Business Journals. March 28, 2002.
- ^ "Commercial Metals Company Completes Acquisition of Australian Long Products Distributor G.A.M. Steel Pty. Ltd" (Press release). PR Newswire. June 3, 2011.
- ^ "Commercial Metals Company Announces Sale Of 100% Ownership Interests In Howell Metal Company" (Press release). PR Newswire. October 17, 2013.
- ^ "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.
- ^ "Commercial Metals Company Completes Southern California Land Sale" (Press release). PR Newswire. January 4, 2022.
- ^ Bach, Trevor (January 4, 2022). "Ares buys site of shuttered steel mill in Inland Empire". The Real Deal.
- ^ "Commercial Metals Completes Acquisition of Tensar Corporation" (Press release). PR Newswire. April 25, 2022.
- ^ "Commercial Metals Company Acquires Advanced Steel Recovery" (Press release). PR Newswire. September 15, 2022.
- ^ "Commercial Metals Company Acquires Texas Metal Recycling Facility" (Press release). PR Newswire. November 15, 2022.
- ^ "COMMERCIAL METALS COMPANY ACQUIRES TENNESSEE METAL RECYCLING COMPANY" (Press release). PR Newswire. March 3, 2023.
- ^ "Commercial Metals Company Acquires EDSCO Fasteners LLC" (Press release). PR Newswire. July 13, 2023.
External links
edit- Business data for Commercial Metals Company: