Commercial Metals Company
|Traded as||NYSE: CMC|
S&P 400 component
|Headquarters||Irving, Texas, United States|
|Barbara Smith, President & Chairman & CEO|
|3.9 million tons of steel (2016)|
|Revenue||$4.610 billion (FY 2016)|
|$0.054 billion (FY 2016)|
|Total assets||$3.130 billion (FY 2016)|
|Total equity||$1.367 billion (FY 2016)|
Number of employees
|8,388 (August 31, 2016)|
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.
The U.S. mills have 2.8 million tons of capacity and the Polish mill has 1.3 million tons of capacity.
The company was founded in 1915 by Jacob Feldman as a scrap trading company.
In 1994, the company acquired Owen Steel Company in an $87 million transaction.
In 2002, the company sold the heavy structural fabrication assets of SMI-Owen Steel, resulting in $20 million of proceeds.
In November 2011, Carl Icahn offered to buy the company for $15 per share. In December 2011, the company rejected the offer. In January 2012, Icahn withdrew the offer after it didn't receive enough shareholder support.
In October 2016, the company acquired the steel fabrication business of Associated Steel Workers, Limited.
In August 2017, the company sold its CMC Cometals Division for $179 million.
- Commercial Metals Company Form 10-K Annual Report for the Fiscal Year Ended August 31, 2016
- "Commercial Metals to Acquire Owen Steel". The New York Times. September 28, 1994.
- "Commercial Metals Company Completes Sale of Heavy Structural Fabrication Assets of SMI-Owen Steel Company, Inc. Subsidiary" (Press release). PRNewswire. March 28, 2002.
- "Commercial Metals Company Completes Acquisition of Australian Long Products Distributor G.A.M. Steel Pty. Ltd" (Press release). PRNewswire. June 3, 2011.
- "Icahn Offers to Buy Metals Company". The New York Times. November 28, 2011.
- SCOTT, MARK (December 5, 2011). "Commercial Metals Rejects Icahn's Bid". The New York Times.
- DE LA MERCED, MICHAEL J. (January 11, 2012). "Icahn Drops Bid for Commercial Metals". The New York Times.
- "Commercial Metals Company Celebrates the Groundbreaking of New Micro Mill in Durant, Oklahoma" (Press release). PRNewswire. April 29, 2016.
- "Commercial Metals Company Signs Definitive Asset Purchase Agreement for Purchase of Steel Fabrication Business of Associated Steel Workers, Limited" (Press release). PRNewswire. October 26, 2016.
- "Commercial Metals Company Announces Completion of Sale of CMC Cometals Division" (Press release). PRNewswire. August 31, 2017.