CMC Buys Controlling Interest in Polish Steel Mill

Commercial Metals Co. announced that its subsidiary, Commercial Metals (International) AG, has closed the previously announced purchase of a controlling interest in Huta Zawiercie S.A., of Zawiercie, Poland. CMC paid approximately $50 million cash to acquire the 71.1 percent of the outstanding shares of Huta Zawiercie.

 After the closing, Huta Zawiercie's name will be changed to CMC Zawiercie S.A. to signify its strategic role in Commercial Metals Company's network of steel minimills, fabrication and processing facilities and marketing and distribution offices.

CMC Zawiercie is the third largest steel producer in Poland with annual capacity estimated at one million metric tons. Facilities include two electric arc furnaces, ladle furnaces and casters. Principal products are rebar and wire rod produced on two separate rolling mills.