CMC Selling Land Under California Operations
09/30/2021 - Commercial Metals Company (CMC) in a press release today announced it will be selling the land where its steel and rebar operations stood in California.
The company ceased operations at its steelmaking facility in Rancho Cucamonga in 2020.
Customers of the Etiwanda rebar operation will be serviced from CMC’s other fabrication locations.
According to the press release, the transaction is for approximately US$300 million, which will be used in part to offset the cost of the company’s new micro-mill in Arizona. The company broke ground on the Arizona 2 MIDA micro-mill on 21 September.
The sale of the land is expected to close in 2022.
