Commercial Metals Company

Commercial Metals Company
Public company
Traded as NYSE: CMC
S&P 400 Component
Industry Metals
Founded 1915
Headquarters Irving, Texas, United States
Key people
 Joseph Alvarado, President & Chairman of the Board & CEO[1]
Products Steel
Production output
 3.9 million tons of steel (2016)[1]
Revenue Decrease US$4.610 billion (FY 2016)[1]
Decrease US$72.543 million (FY 2016)[1]
Decrease US$54.762 million (FY 2016)[1]
Total assets Decrease US$3.130 billion (FY 2016)[1]
Total equity Decrease US$1.367 billion (FY 2016)[1]
Number of employees
 8,388 (August 31, 2016)[1]
Website www.cmc.com

Commercial Metals Company is a steel and metal manufacturer based in based in Irving, Texas.

Current operations

The company owns steel minimills in Alabama, Arizona, Arkansas, South Carolina, Texas, and Poland and recycling facilities around the world.[1]

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.[1]

The U.S. mills have 2.8 million tons of capacity and the Polish mill has 1.3 million tons of capacity.[1][2]

History

The company was founded in 1915 by Jacob Feldman as a scrap trading company.[3]

In 1994, the company acquired Owen Steel Company in an $87 million transaction.[4]

In 2002, the company sold the heavy structural fabrication assets of SMI-Owen Steel, resulting in $20 million of proceeds.[5]

In 2011, Carl Icahn offered to buy the company for $15 per share.[6]

See also

References

  1. 1 2 3 4 5 6 7 8 9 10 11 Commercial Metals Company Form 10-K Annual Report for the Fiscal Year Ended August 31, 2016
  2. ↑ CMC Americas: About Us
  3. ↑ CMC: History
  4. ↑ "Commercial Metals to Acquire Owen Steel". New York Times. September 28, 1994.
  5. ↑ "Commercial Metals Company Completes Sale of Heavy Structural Fabrication Assets of SMI-Owen Steel Company, Inc. Subsidiary" (Press release). PRNewswire. March 28, 2002.
  6. ↑ "Icahn Offers to Buy Metals Company". New York Times. November 28, 2011.
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