Commercial Metals Company is a steel and metal manufacturer based in based in Irving, Texas.
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Current operations
The company owns steel minimills in Alabama, Arizona, Arkansas, South Carolina, Texas, and Poland and recycling facilities around the world.
In its fiscal year 2016, the company shipped 2.630 million tons of steel from its American mills and 1.254 million tons of steel from its mill in Poland.
The U.S. mills have 2.8 million tons of capacity and the Polish mill has 1.3 million tons of capacity.
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History
The company was founded in 1915 by Jacob Feldman as a scrap trading company.
In 1994, the company acquired Owen Steel Company in an $87 million transaction.
In 2002, the company sold the heavy structural fabrication assets of SMI-Owen Steel, resulting in $20 million of proceeds.
In June 2011, the company acquired G.A.M. Steel Pty. Ltd, based in Melbourne, Australia.
In November 2011, Carl Icahn offered to buy the company for $15 per share. In December 2011, the company rejected the offer. In January 2012, Icahn withdrew the offer after it didn't receive enough shareholder support.
In April 2016, the company broke ground on a mill in Durant, Oklahoma.
In October 2016, the company acquired the steel fabrication business of Associated Steel Workers, Limited.
In August 2017, the company sold its CMC Cometals Division for $179 million.
Source of the article : Wikipedia
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