Market Segment
CMC Finds Buyer for California Site
Written by Tim Triplett
October 5, 2021
Commercial Metals Co. (CMC) has found a buyer for the land in Rancho Cucamonga, Calif., that was the site of its former Steel California and Rebar Etiwanda operations. The steelmaker hopes to get $300 million from the sale, which is still subject to customary closing conditions.
The company’s Steel California operations ceased in December 2020, and customers of its Rebar Etiwanda operations will be serviced from other CMC fabrication locations. The site is expected to be repurposed for other industrial uses.
CMC will use proceeds from the sale to partially offset the cost of its new Arizona 2 micro mill, which it expects to commission in the second half of fiscal 2023. The sale of the California real estate is expected to close during CMC’s second fiscal quarter of 2022.
Irving, Texas-based Commercial Metals Co. and its subsidiaries manufacture, recycle and fabricate steel and metal products through a network of facilities that includes seven electric arc furnace (EAF) minimills, two EAF micro mills, a rerolling mill, steel fabrication and processing plants, construction-related product warehouses, and metal recycling facilities in the U.S. and Poland.
Tim Triplett
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