Commercial Metals sold the unit for US$179 million to Traxys North America LLC and Traxys Europe SA. Cometals markets, distributes, and processes metal, ores, concentrates, industrial minerals, ferroalloys, chemicals and industrial products.

“The sale completes an important step in our strategic plan to reposition the business allowing the company to focus its capital and other resources on its core steel manufacturing operations in the United States and Poland,” Commercial Metals president and chief operating officer Barbara Smith said in a statement.