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Commercial Metals Acquires Economy Steel
09/20/2007 - Commercial Metals completes its acquisition of substantially all the operating assets of Economy Steel of Las Vegas.
Commercial Metals Co. has completed its acquisition of substantially all the operating assets of Economy Steel, Inc. of Las Vegas, Nev.
Established in 1980, CMC Economy Steel is a rebar fabricator, placer, construction-related products supplier and steel service center.
"This acquisition fits strategically with our company initiative for growth and expansion into a new geographic market,” said Russ Rinn, CMC Executive Vice President and CMC Americas President. “The purchase will also support the development and operational success of CMC's future micromill in Arizona."
The Economy Steel assets will operate under the new name of CMC Economy Steel as part of CMC Americas' Fabrication and Distribution segment. Karl Gamertsfelder, Area Manager—Desert States, will assume the role of General Manager and Chuck Darnell, former owner, will serve as the facility’s Operations Manager for the facility.
Headquartered in Irving, Texas, 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 overseas markets.
