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Commercial Metals Company

Topic: Company

 From HandWiki - Reading time: 4 min
Short description: Steel and metal manufacturer
Commercial Metals Company
TypePublic company
NYSE: CMC
S&P 400 component
IndustryMetals
Founded1915; 109 years ago (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]

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]

CMC employs over 12,000 people working at over 212 facilities located in the United States, United Kingdom, and Central Europe. [2]

In 2022 net sales totaled $8.9 billion and 6.1 million short tons of steel were shipped to external customers. [3]

The company was founded in 1915 by Russian immigrant Jacob Feldman as American Iron & Metal Company, a scrap trading company.[4]

Acquisitions and divestitures

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

See also

References

  1. ↑ 1.0 1.1 "Commercial Metals Company Form 10-K Annual Report for the Fiscal Year Ended August 31, 2023". U.S. Securities and Exchange Commission. https://www.sec.gov/ix?doc=/Archives/edgar/data/22444/000002244423000126/cmc-20230831.htm. 
  2. ↑ "Who We Are – CMC" (in en-US). https://esg.cmc.com/about/who-we-are/. 
  3. ↑ "Who We Are – CMC" (in en-US). https://esg.cmc.com/about/who-we-are/. 
  4. ↑ "Commercial Metals Company". Encyclopedia.com. https://www.encyclopedia.com/social-sciences-and-law/economics-business-and-labor/businesses-and-occupations/commercial-metals-company. 
  5. ↑ "Commercial Metals to Acquire Owen Steel". The New York Times. Bloomberg News. September 28, 1994. https://www.nytimes.com/1994/09/28/business/company-news-commercial-metals-to-acquire-owen-steel.html. 
  6. ↑ "Commercial Metals to buy Bouras assets for $63M". American City Business Journals. March 5, 2007. https://www.bizjournals.com/dallas/stories/2007/03/05/daily6.html. 
  7. ↑ "Commercial Metals sells SMI-Owen plant". American City Business Journals. March 28, 2002. https://www.bizjournals.com/dallas/stories/2002/03/25/daily39.html. 
  8. ↑ "Commercial Metals Company Completes Acquisition of Australian Long Products Distributor G.A.M. Steel Pty. Ltd" (Press release). PR Newswire. June 3, 2011.
  9. ↑ "Commercial Metals Company Announces Sale Of 100% Ownership Interests In Howell Metal Company" (Press release). PR Newswire. October 17, 2013.
  10. ↑ "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.
  11. ↑ "Commercial Metals Company Announces Completion of Sale of CMC Cometals Division" (Press release). PR Newswire. August 31, 2017.
  12. ↑ "Irving-based steel manufacturer Commercial Metals plans $600 million acquisition to double capacity". The Dallas Morning News. January 2, 2018. https://www.dallasnews.com/business/local-companies/2018/01/03/irving-based-steel-manufacturer-commercial-metals-plans-600-million-acquisition-to-double-capacity/. 
  13. ↑ "Commercial Metals Company Completes Acquisition Of Certain U.S. Rebar Assets From Gerdau" (Press release). PR Newswire. November 5, 2018.
  14. ↑ "Commercial Metals Company Completes Southern California Land Sale" (Press release). PR Newswire. January 4, 2022.
  15. ↑ Bach, Trevor (January 4, 2022). "Ares buys site of shuttered steel mill in Inland Empire". The Real Deal. https://therealdeal.com/la/2022/01/04/ares-pays-313m-for-inland-empire-industrial-patch/. 
  16. ↑ "Commercial Metals Completes Acquisition of Tensar Corporation" (Press release). PR Newswire. April 25, 2022.
  17. ↑ "Commercial Metals Company Acquires Advanced Steel Recovery" (Press release). PR Newswire. September 15, 2022.
  18. ↑ "Commercial Metals Company Acquires Texas Metal Recycling Facility" (Press release). PR Newswire. November 15, 2022.
  19. ↑ "COMMERCIAL METALS COMPANY ACQUIRES TENNESSEE METAL RECYCLING COMPANY" (Press release). PR Newswire. March 3, 2023.
  20. ↑ "Commercial Metals Company Acquires EDSCO Fasteners LLC" (Press release). PR Newswire. July 13, 2023.

External links



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