Economy
CMC Announces Acquisition of Advanced Steel Recovery
Written by Becca Moczygemba
September 18, 2022
Growth is on the horizon for Commercial Metals Company (CMC). The Irving, Texas-based metals provider and recycler announced its acquisition of Advanced Steel Recovery LLC (ASR) in a press release on Sept. 15.
In addition to supplying recycled ferrous metals, Rancho Cucamonga, Calif-.based ASR possesses processing and brokering capabilities with which they can procure material for both domestic and export marketplaces.
As part of CMC’s strategic expansion plans, the addition of ASR will aid in supporting the company’s operations in the western US.
“Our Arizona 2 micro mill remains on-track to startup in early calendar 2023, and with the commencement of operations will come the need for a secure, cost-effective supply of ferrous scrap. ASR’s capabilities will help ensure that both of CMC’s world class mills in Arizona will have continued reliable access to vital raw materials,” remarked Barbara Smith, chairman, president, and CEO of CMC.
CMC is a manufacturer, recycler, processor, and fabricator of steel and metal products. The company focuses on providing materials and services through various facilities that include seven electric arc furnace mini mills, two EAF micro mills, one rerolling mill, and warehousing in the US and Poland. ASR brings complementary sustainable capabilities through its FASTek machine, the first of its kind machine that was designed to completely automate the containerization of scrap metal.
By Becca Moczygemba, Becca@SteelMarketUpdate.com
Becca Moczygemba
Read more from Becca MoczygembaLatest in Economy
ISM September survey captures deepening manufacturing gloom
The Institute for Supply Management’s (ISM) latest monthly report on manufacturing reflects a bleak view of American industry in September.
Key industries concerned over government shutdown’s impact on steel, manufacturing
Trade groups cautioned that a prolonged shutdown could strain US industry.
Chicago Business Barometer catches cold winds of contraction in September
The Chicago Business Barometer's September reading indicates a softening in overall business activity in the Midwest for the third consecutive month, with new orders and backlogs retreating further.
Metalforming market sentiment takes a dive in September: PMA
Metalforming manufacturers anticipate a decrease in near-term conditions, according to the Precision Metalforming Association's (PMA) Business Conditions Report for September.
AIA: Architecture firms still under pressure
Architecture firms reported a modest improvement in billings through August, yet business conditions remained soft, according to the latest Architecture Billings Index (ABI) release from the American Institute of Architects (AIA) and Deltek.