Commercial Metals Company
Commercial Metals Company (NYSE: CMC), based in Irving, Texas, is a United States based steel and metal manufacturer founded in 1915. It owns four steel minimills in Texas, Alabama, South Carolina and Arkansas, one micro minimill in Arizona, one copper minimill (Howell Metal Company) in Virginia, fabricators, and recyclers in the United States and CMC Poland, Sp. z o.o., the third largest steelmaker in Poland.
In 2002, Commercial Metals suffered two events requiring retroactive writedowns. The first instance included a theft and an apparent accounting fraud. The second was related to accounting errors. Total amount of the adjustments was $3 million net after tax.
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