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News Breaks
May 29, 2014
16:23 EDTCMCCommercial Metals signs agreement for purchase and sale of assets with Newell
Commercial Metals announced that on May 20, Commercial Metals Company, through its wholly-owned subsidiary, Structural Metals, entered into a definitive Agreement for the Purchase and Sale of Assets with Newell Recycling of San Antonio and John R. Newell for the purchase of substantially all of the assets of Newell Recycling located at 726 Probandt Street San Antonio, Texas. CMC anticipates that the projected closing date will be June 13, but completion of the acquisition is contingent upon satisfaction of customary closing conditions. Newell Limited will retain the Media Plant operation located at the site, as well as the shredder operations of Newell Recycling in Eagle Pass, Texas. Along with this purchase of the assets of Newell Recycling, CMC will acquire a complete 80" X 104" shredder with a 4000 hp Alston motor from The Shredder Company. CMC will evaluate the current shredder capacity in Central Texas and a determination will be made in the next 6-12 months on the continued operation of a shredder in the current location in San Antonio, Texas and the most beneficial location to place the 80" X 104" shredder. 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.
News For CMC From The Last 14 Days
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June 25, 2015
09:08 EDTCMCOn The Fly: Pre-market Movers
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07:07 EDTCMCCommercial Metals: Key market indicators point toward strong finish to FY15
The company commented, "The demand for our finished steel products in the U.S. and Poland remains high. Additionally, unfavorable weather in May in the central region of the U.S. resulted in certain construction projects being pushed out into our fiscal fourth quarter, which we expect should provide some upside to the fourth quarter's results. Elevated levels of imports continue to pressure margins for our U.S. and Polish operations. Our International Marketing and Distribution segment also continues to be challenged by the strong U.S. dollar."
07:06 EDTCMCCommercial Metals reports Q3 Americas Mills operating profit $84.2M
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07:06 EDTCMCCommercial Metals reports Q3 Americas Recycling operating loss of $2M
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07:06 EDTCMCCommercial Metals reports Q3 EPS cont ops 58c, consensus 39c
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June 24, 2015
15:01 EDTCMCNotable companies reporting before tomorrow's open
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15:00 EDTCMCCommercial Metals technical comments before earnings
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13:29 EDTCMCCommercial Metals volatility flat into Q3 and outlook
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