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.”
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