IRVING, Texas, June 17, 2014 /PRNewswire/ -- Commercial Metals
Company (NYSE: CMC) announced today that on June 13, 2014, Commercial Metals Company, through
its wholly-owned subsidiary, Structural Metals, Inc. (collectively,
"CMC"), completed the transaction for the purchase of substantially
all of the assets of Newell Recycling of San Antonio, LP ("Newell Recycling") located
at 726 Probandt Street San Antonio,
Texas, pursuant to a definitive Agreement for the Purchase
and Sale of Assets by and among CMC, Newell Recycling and
John R. Newell. As noted in
the prior release dated May 29, 2014,
Newell Limited retains the Media Plant operation located at the
site, as well as the shredder operations of Newell Recycling in
Eagle Pass, Texas.
This acquisition of the assets of Newell Recycling continues the
vertical integration of CMC by providing raw materials for its CMC
Steel Texas location, establishes a larger recycling presence in
San Antonio, Texas, and provides
an opportunity for continued growth of our recycling operations in
the Central Texas Area.
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
CMC's expectations relating to CMC's future results and CMC'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, CMC undertakes no obligation to update, amend or clarify any
forward-looking statements to reflect events, new information or
otherwise.
Actual results may differ materially from those projected as a
result of certain risks and uncertainties, including, but not
limited to, the following: absence of global economic recovery or
possible recession relapse and the pace of overall global economic
activity; construction activity or lack thereof; decisions by
governments affecting the level of steel imports, including tariffs
and duties; difficulties or delays in the execution of construction
contracts resulting in cost overruns or contract disputes;
metals pricing over which CMC exerts little influence; increased
capacity and product availability from competing steel minimills
and other steel suppliers, including import quantities and pricing;
execution of cost reduction strategies; industry
consolidation or changes in production capacity or
utilization; currency fluctuations; availability and
pricing of raw materials, including scrap metal, energy, insurance
and supply prices; passage of new, or interpretation of existing,
environmental laws and regulations; and those factors listed
under Item 1A "Risk Factors" included in our Annual Report on Form
10-K for the fiscal year ended August 31, 2013.
SOURCE Commercial Metals Company