CMC Completes Acquisition of ABC Coating Companies and Affiliates
07/02/2008 - Commercial Metals completes its acquisition of the operating assets of ABC Coating Companies, Banner Rebar, and Toltec Steel Services.
Commercial Metals Co. has completed its acquisition of substantially all the operating assets of ABC Coating Co. of Texas, Inc. of Waxahachie, Texas; ABC Coating Co., Inc. of Brighton, Colo.; Banner Rebar Inc. of Denver, Colo.; and Toltec Steel Services, Inc. of Kankakee, Ill.
The acquisition also includes Texas-based Rebar Trucking, Inc. and the 50% interest of the ABC Coating of North Carolina joint venture with CMC in Gastonia and ABC Coating Tennessee of Nashville.
Established in 1978, ABC Coating companies are involved in rebar fabrication and epoxy-coated reinforcing bar servicing the southwest, midwest and southeast U.S. All six locations—which together employ approximately 250 employees—will become a part of the CMC Americas Fabrication and Distribution segment.
“We are excited about bringing this group of companies into the CMC family,” said Russ Rinn, CMC Executive Vice President and CMC Americas President. “The geographical and product line expansion will enable us to offer additional value-added services to our customer base. Their outstanding team of employees, who exemplify the drive and leadership of the company's founder, Don Benge, will provide additional strength to our company."
Commercial Metals Co. and subsidiaries manufacture, recycle and market steel and metal products, related materials and services through a network including steel minimills, steel fabrication and processing plants, construction-related product warehouses, a copper tube mill, metal recycling facilities and marketing and distribution offices in the United States and in strategic international markets.
