Commercial Metals Company

Rank#2529

Market Cap7.28B

CountryUnited States

Summary

Commercial Metals Company manufactures, recycles, and fabricates steel and metal products, and related materials and services in the United States, Poland, China, and internationally. The company processes and sells ferrous and nonferrous scrap metals to steel mills and foundries, aluminum sheet and ingot manufacturers, brass and bronze ingot makers, copper refineries and mills, secondary lead smelters, specialty steel mills, high temperature alloy manufacturers, and other consumers. It also manufactures and sells finished long steel products, including reinforcing bar, merchant bar, light structural, and other special sections, as well as semi-finished billets for rerolling and forging applications. In addition, the company provides fabricated steel products used to reinforce concrete primarily in the construction of commercial and non-commercial buildings, hospitals, convention centers, industrial plants, power plants, highways, bridges, arenas, stadiums, and dams; sells and rents construction-related products and equipment to concrete installers and other businesses; and manufactures and sells strength bars for the truck trailer industry, special bar steels for the energy market, and armor plates for military vehicles. Further, it manufactures rebars, merchant bars, and wire rods; and sells fabricated rebars, wire meshes, fabricated meshes, assembled rebar cages, and other fabricated rebar by-products to fabricators, manufacturers, distributors, and construction companies. The company was founded in 1915 and is headquartered in Irving, Texas.

History

The company was founded in 1915 by Jacob Feldman as a scrap trading company. In 1994, it acquired Owen Steel Company in an $87 million transaction.In 2002, the company sold its 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, which the company rejected the following month. By January 2012, Icahn withdrew the offer for lack of shareholder support.In October 2016, it acquired the steel fabrication business of Associated Steel Workers, Limited.In August 2017, the company sold its CMC Cometals Division for $179 million.In November 2018, the company acquired assets from Gerdau.

Mission

At CMC, we are committed to being a low-cost, high quality metals recycler, manufacturer and fabricator.

Vision

Our vision is to be the world’s preferred provider of metal solutions and services.

References

https://en.wikipedia.org/wiki/Commercial_Metals_Company

https://in.investing.com/equities/commercial-metals-comp

https://finance.yahoo.com/quote/CMC/profile?p=CMC

https://www.comparably.com/companies/commercial-metals-company/mission

https://www.crunchbase.com/organization/commercial-metals-company

https://sec.report/CIK/0000022444

https://companiesmarketcap.com/