Commercial Metals Co. announced that its subsidiary, Commercial Metals (International) AG, has entered into a definitive agreement to purchase a controlling interest in Huta Zawiercie S.A., of Zawiercie, Poland. CMC will pay about $51 million cash to acquire the 71.1 percent of the outstanding shares of Huta Zawiercie held by Impexmetal S.A., Warsaw, Poland. The Polish State Treasury controls most of the remaining shares.
Huta 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.
The purchase is anticipated to be completed within three months.Latest from Recycling Today
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