Commercial Metals Company Announces Second Investment In Spooled Rebar At Its Arizona Micro Mill

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Nov 29, 2017, 05:45 ET

IRVING, Texas, Nov. 29, 2017 /PRNewswire/ -- Commercial Metals Company (NYSE: CMC) today announced that the company will invest in a second spooler to produce hot-rolled, spooled rebar at its micro mill in Mesa, Arizona. This investment is in addition to the January 2017 announcement of the first spooler in the United States, which will be located at the company's new micro mill in Durant, Oklahoma. The company expects to begin shipping spooled rebar from the Oklahoma mill in the spring of 2018 and from the Arizona mill about one year later.

"We are excited to expand our production capabilities of spooled rebar in the United States. The ability to produce and sell spooled rebar from both Oklahoma and Arizona will allow us to reach a broader geographic market. The micro mill technology lends itself well to spooled rebar production and allows us to offer spools from 1.5 to 4.8 tons. CMC remains committed to supporting and servicing the concrete reinforcing industry with new and innovative products," commented Tracy Porter, Executive Vice President, CMC Operations.

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 four electric arc furnace ("EAF") mini mills, an EAF Micro mill, a rerolling mill, 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