Commercial Metals Company Announces It Will Be The First To Introduce Spooled Rebar In The United States

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Jan 09, 2017, 06:45 ET

IRVING, Texas, Jan. 9, 2017 /PRNewswire/ -- Commercial Metals Company (NYSE: CMC) today announced that the company will soon become the first and only producer of hot-rolled, spooled rebar in the United States. CMC plans to begin production at its new micro mill in Durant, Oklahoma in the fall of 2017 and expects to begin shipping spooled rebar in the spring of 2018.

"Spooled rebar has many advantages over traditional loose-wound coiled rebar that give fabricators a competitive advantage. Traditional coiled rebar's cooling process inherently causes twisting in the bar. Spooled rebar has a no-twist design which alleviates the challenges associated with fabricating loose-wound coiled rebar. We are pleased to be able to offer this new, more efficient product to our fabricating customers," commented Tracy Porter, Executive Vice President, CMC Operations.

CMC's hot-rolled, spooled rebar will be produced in #3 thru #6 bar to ASTM specifications, and in 1.5 up to 4.8 ton spools, allowing customers to choose the spool size that best fits their needs.

About Commercial Metals Company

Commercial Metals Company and its 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, metal recycling facilities and marketing and distribution offices in the United States and in strategic international markets.

Forward-Looking Statements

This news release contains forward-looking statements regarding the Company's expectations relating to U.S. construction activity and the Company's operating plans. These forward-looking statements generally can be identified by phrases such as we, CMC or its management "expects," "anticipates," "believes," "estimates," "intends," "plans to," "ought," "could," "will," "should," "likely," "appears" or other similar words or phrases. There are inherent risks and uncertainties in any forward-looking statements. Although we believe that our expectations are reasonable, we can give no assurance that these expectations will prove to have been correct, and actual results may vary materially. Except as required by law, the Company undertakes no obligation to update, amend or clarify any forward-looking statements to reflect changed assumptions, the occurrence of anticipated or unanticipated events, new information or circumstances or otherwise.

SOURCE Commercial Metals Company