Sources: Commercial Metals Co., Dallas; CP staff
Commercial Metals has solidified its stake in concrete reinforcing products by acquiring 33 U.S. rebar fabrication facilities, plus California, Florida, New Jersey and Tennessee steel mills from Gerdau S.A. The $600 million transaction represents what CMC Chairman and CEO Barbara Smith calls “an important step in our strategy to be the leading concrete reinforcing specialist as well as a significant provider of merchant and wire rod products. With our expanded geographic footprint and added operational flexibility, this transaction supports our vertically integrated steel making model and will leverage our existing rebar manufacturing technology and customer service competencies.”
Sources: White House Briefing Room; National Ready Mixed Concrete Association, Silver Spring, Md.; CP staff
NRMCA Chairman Rodney Grogan (MMC Materials), Vice Chairman William Sandbrook (U.S. Concrete) and Safety, Environmental & Operations Committee Chairman David Williams (Chaney Enterprises) represented the ready mixed concrete industry at a late-October White House gathering for the workforce development-rooted Pledge to America’s Workers campaign.
Sources: Trinity Industries Inc., Dallas; CP staff
A spinoff of assets outside Trinity Industries core Rail and Railcar Leasing and Management Services businesses has created Arcosa Inc., a separate New York Stock Exchange-traded company reporting 2017 sales of $1.5 billion across three groups: Construction Products, with 11 sand & gravel (Texas, Louisiana) and eight expanded shale and clay (Alabama, Arkansas, California, Colorado, Indiana, Kentucky, Louisiana, Texas) plants, plus Energy Equipment and Transportation.