CMC Subsidiary Closes Purchase of PHP Nike
06/06/2008 - Commercial Metals subsidiary, CMC Poland, completes its acquisition of the outstanding shares of PHP Nike SA, Poland.
Commercial Metals Co. announced that its subsidiary, CMC Poland, has completed the acquisition of substantially all the outstanding shares of PHP Nike SA.
Located in Dabrowa Gornicza, Poland, PHP Nike SA is a leading producer of welded steel meshes, cold rolled wire rod and cold rolled rebar in Poland with annual production capacity of 90,000 metric tons.
“PHP Nike SA has been a major customer of wire rod produced at our minimill in Poland (CMC Zawiercie),” said Hanns Zoellner, Executive Vice President of CMC and President of CMC International. “This acquisition allows
CMC to commence the next step of vertical integration in Poland and is a substantial expansion of our product line in downstream operations.
“With this acquisition, CMC will offer a more complete line of value-added products to the construction industry, differentiating us in the market,” continued Zoellner. “In addition, CMC Poland has purchased mesh equipment for installation at the Polish minimill location, which will bring total mesh capacity up to 160,000 metric tons per annum.”
PHP Nike SA will operate under the company’s CMC International Fabrication and Distribution segment.
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.
PHP Nike SA, which was established in 1997, is located in Dabrowa Gornicza, Poland.
