Commercial Metals Company


Commercial Metals Company is a steel and metal manufacturer based in Irving, Texas.
The company owns 7 electric arc furnace steel minimills in Alabama, California, Florida, New Jersey, South Carolina, Tennessee, and Texas, 2 electric arc furnace steel mills, in Arizona and Oklahoma, as well as a mill in Zawiercie, Poland and associated recycling and fabrication facilities.
In its fiscal year 2019, the company shipped 4.394 million tons of steel from its American mills and 1.254 million tons of steel from its mill in Poland.
The U.S. mills have 5.8 million tons of capacity, and the Polish mill has 1.3 million tons of capacity.

History

The company was founded in 1915 by Jacob Feldman as a scrap trading company.
In 1994, the company acquired Owen Steel Company in an $87 million transaction.
In 2002, the company sold the heavy structural fabrication assets of SMI-Owen Steel, resulting in $20 million of proceeds.
In June 2011, the company acquired G.A.M. Steel Pty. Ltd, based in Melbourne, Australia.
In November 2011, Carl Icahn offered to buy the company for $15 per share, which the company rejected the following month. By January 2012, Icahn decided to withdrew the offer after it didn't receive enough shareholder support.
In April 2016, the company broke ground on a mill in Durant, Oklahoma, and by October, it acquired the steel fabrication business of Associated Steel Workers, Limited.
In August 2017, the company sold its CMC Cometals Division for $179 million.