Steel Mills
June 22, 2019
CMC Expansions Lead to Improved Results
Written by Sandy Williams
Expansion at Commercial Metals Corp. is paying off with a 33 percent increase in revenue to $1.6 billion in the third quarter of FY 2019. In November, CMC acquired Gerdau’s four rebar mills and 33 fabrication facilities in the U.S., increasing its U.S. mill capacity by 75 percent. Net earnings for CMC totaled $78.6 million.
A second spooler was commissioned at the Mesa Arizona Micro Mill last quarter, adding to the company’s existing spooled rebar capability at Durant, Okla. “These two facilities are the first in the world to operate in a continuous-continuous fashion,” said CMC President and CEO Barbara Smith during the Q3 earnings call.
