Commercial Metals Co.
Commercial Metals Company (CMC) is a global, low-cost metals recycling, manufacturing, fabricating, and trading enterprise. Originating in 1915 with a single recycling location, it has progressively moved into higher value downstream segments of the steel value chain and is now a vertically integrated company. With corporate headquarters in Irving, Texas, today it operates in four primary business segments at over 200 locations and in more than 20 countries.
Latest News
Commercial Metals Co. Reports First Fiscal Quarter Results and Outlook
07 January 2013 - As Commercial Metals Co. reported its earnings results for the quarter ended 30 November 2012, it said there is growing evidence of an emerging recovery in domestic construction markets, which is encouraging for future quarters.
Commercial Metals Company Names Joseph Alvarado Chairman
06 December 2012 - Commercial Metals Company announced that Mr. Joseph Alvarado, its CEO and president, will also become the chairman of the board, effective 1 January 2013.
CMC Reports a Fourth Consecutive Profitable Quarter
24 October 2012 - U.S.-based steelmaker and recycler Commercial Metals Company reported its earnings for the fiscal quarter and year ended 31 August 2012, announcing a fourth consecutive quarter of profitability and the fifth-best year in the company's history, despite a backdrop of weak conditions in most major markets globally.
CMC Alabama Appoints New Director of Operations
03 September 2012 - Greg Brandon is joining CMC Steel Alabama as director of operations on 1 September.
CMC Appoints John Elmore SVP and President of CMC International
02 July 2012 - Commercial Metals Company announced that effective today, Mr. John Elmore has been selected to serve as Senior Vice President of the company and President of the company's International division, succeeding Mr. Hanns Zollner who will retire as of 1 January 2013.
Commerical Metals Reports Third Consecutive Profitable Quarter
27 June 2012 - Commercial Metals Company reported net earnings of $40.7 million on net sales of $2.0 billion for the third quarter ended 31 May 2012.
2012 Awards for Steel Excellence Winners Announced
22 June 2012 - American Metal Market (AMM) recently announced the winners of this year's Awards for Steel Excellence.
Commercial Metals Company Announces Sale Of Certain Croatian Pipe Mill Assets
14 June 2012 - Commercial Metals Company (CMC) announced the completion of the sale to an undisclosed and unaffiliated third-party of the assets related to the welded pipe mill and seamless pipe mill of CMC's former Croatian pipe mill, CMC Sisak d.o.o., for US$6.65 million. These assets were part of the assets excluded from the sale on June 1, 2012, of CMC Sisak to Industrielle Beteiligung SA.
Commercial Metals Company Announces Completion of Sale of Croatian Pipe Mill
04 June 2012 - Commercial Metals Company announced the completion of the sale of its Croatian Pipe Mill and wholly owned subsidiary, CMC Sisak, d.o.o., pursuant to a definitive purchase agreement whereby CMC sold all of the outstanding shares of CMC Sisak to the Danieli Group – Steel Making Division.
Commercial Metals Reports Improved Second Quarter Earnings
29 March 2012 - Commercial Metals Co. reported net earnings of $28.9 million, or $0.25 per diluted share, on net sales of $2.0 billion for the second quarter ended February 29, 2012. This earnings performance is a significant improvement over the net loss of $46.2 million, or $0.40 per share, reported in last year's second quarter with sales of $1.8 billion.
CMC Responds to Expiration of Tender Offer, Withdrawal of Director Nominees
12 January 2012 - Commercial Metals Co. issued a statement in response to IEP Metals Sub LLC’s announcement that its tender offer has expired and that Mr. Icahn has withdrawn his nominees for election to the company's Board.
CMC Reports Improved First Quarter Earnings
09 January 2012 - Commercial Metals Co. reported net earnings of $107.7 million on net sales of $2.0 billion for the fiscal first quarter ended November 30, 2011.
CMC Enters Amended Credit Agreement, Receivables Purchase Agreement
04 January 2012 - Commercial Metals Co. has entered into amended Credit and Receivables Purchase Agreements.
CMC Announces Guidance for First Quarter 2012 Earnings
20 December 2011 - Commercial Metals Co. expects to report earnings in the range of $0.87 to $0.97 per diluted share for its first quarter ended November 30, 2011, a substantial increase over the $0.01 earnings per share recorded for the first quarter of fiscal 2011.
CMC Board of Directors to Review Unsolicited Tender Offer from Carl Icahn
12 December 2011 - Commercial Metals Company's Board of Directors, in consultation with its independent financial and legal advisers, will review the unsolicited tender offer from Carl Icahn and Icahn Enterprises Holdings L.P. to acquire all outstanding common shares of Commercial Metals Company at a price of $15.00 per share.
CMC to Review Unsolicited Letter from Carl Icahn
29 November 2011 - Commercial Metals comments on the open letter released to the press by Carl Icahn proposing to acquire all outstanding common shares of Commercial Metals at a price of $15.00 per share.
CMC Reports Fourth Quarter and Full-Year Results
31 October 2011 - Commercial Metals Company reported a net loss of $120.3 million $1.04 per diluted share on net sales of $2.3 billion for the fourth quarter, and a net loss of $129.6 million on net sales of $7.9 billion for the full year ended August 31, 2011.
CMC Receives Notice of Intention to Nominate Directors
20 October 2011 - Commercial Metals Co. (CMC) has received notice from Carl Icahn, and affiliated entities, of their intention to nominate three candidates for election to CMC's Board of Directors at the company's 2012 Annual Meeting. The notice also contains the intention to make certain proposals at the meeting.
Commercial Metals Company Announces Restructuring Actions
10 October 2011 - Commercial Metals has announced a number of restructuring actions, including the closure or sale of its CMC Sisak mill in Croatia, additional workforce reductions, closure of five rebar fabricating locations, and rationalization of eight construction services locations.
Commercial Metals Adopts Stockholder Rights Plan
02 August 2011 - The Board of Directors of Commercial Metals Co. has adopted a Stockholder Rights Plan with a 10% threshold; stockholders with existing positions over 10% will be grandfathered.
