Business News

Commercial Metals To Sell Global Material Trading Operation


Commercial Metals, primarily a metals dealer and fabricator, said Tuesday it has agreed to sell its rawmaterials trading division, CMC Cometals, to affiliates of The Carlyle Group (CG), no terms disclosed. The sale is part of the company’s plan to exit its international marketing and distribution segment. Commercial Metals said the transaction is expected to close later this summer.

In addition, the company announced its plan to pursue a sale of its CMC Cometals Steel division located in Irving, Texas, which markets steel products, as well as a restructuring and sale of the remaining trading operations located in Asia and Australia. “These actions will allow the company to focus its capital and other resources on its core steel manufacturing operations in the United States and Poland, which are well positioned to serve the robust demand for steel needed to support nonresidential construction and infrastructure in the United States and Poland,” Chief Operating Officer Barbara Smith said.