Steel Mills

CMC to Exit International Marketing and Distribution
Written by Tim Triplett
June 25, 2017
Commercial Metals Co., Irving, Texas, plans to exit its International Marketing and Distribution Segment. As an initial step, on June 12, its CMC Cometals International subsidiary signed a definitive agreement to sell its raw materials trading division, CMC Cometals, to Traxys North America L.L. and Traxys Europe S.A., affiliates of The Carlyle Group.
CMC Cometals markets, distributes and processes metal, ores, concentrates, industrial minerals, ferroalloys, chemicals and industrial products worldwide. The transaction, subject to regulatory approvals, is expected to close later this summer.
“We are pleased to see Cometals combine with the highly respected Traxys group and are confident that this transaction will provide Cometals with the best platform to grow its business and serve its customers and suppliers,” said President and COO Barbara Smith.
“We are excited about this transaction and have identified many opportunities to grow the Cometals business as part of the Traxys Group,” added Traxys CEO Mark Kristoff. “The Cometals team has enjoyed a strong track record of supplier and customer service that complements Traxys’ activities and broadens our product offerings.”
Under the new ownership structure, the Cometals team will continue to operate from its current locations in the U.S., China, Benelux and Russia.
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 its 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,” Smith added.
Tim Triplett
Read more from Tim TriplettLatest in Steel Mills
Nucor profits jump in Q3, but company cautions on Q4 outlook sequentially
Nucor’s profits more than doubled in the third quarter year over year, but the company expects Q4’25 to be lower sequentially.
SDI announces proprietary low-carbon EDGE products
Steel Dynamics has announced lower-embodied-carbon steel products BIOEDGE and EDGE, and expects “immediate interest” from several markets for some of the offerings.
Wheeling-Nippon Steel raises Galvalume coating extras
The steelmaker released updated extras to customers on Oct. 15, marking the second adjustment in just six weeks following their early September revision
Cliffs offloading some FPT assets, considering HBI plant sale as well
Lourenco Goncalves confirmed that Cleveland-Cliffs is actively selling off portions of its Ferrous Processing and Trading (FPT) assets. Its direct reduction plant in Toledo, Ohio, may also be up for grabs...
SSAB cites US strength but flags tariff-driven uncertainty
The Americas segment of Swedish steelmaker SSAB delivered a stable third quarter, but with weaker shipments and continuing cautious demand. Plate prices held, but tariffs, slowing end-user demand, and...
