IRVING, Texas, June 13, 2012 /PRNewswire/ -- Commercial Metals Company (CMC) (NYSE: CMC) announced today the completion of the sale to an undisclosed and unaffiliated third-party of the assets related to the welded pipe mill and seamless pipe mill of CMC's former Croatian Pipe Mill and wholly-owned subsidiary, CMC Sisak d.o.o., for a total consideration of U.S. $6,650,000. These assets were part of the assets excluded from the sale on June 1, 2012, of all of the outstanding shares of CMC Sisak to Industrielle Beteiligung SA (a member of the Steel Making Division of the Danieli Group). Certain assets of CMC Sisak still remain in CMC's possession and CMC is continuing to market those assets. Deutsche Bank Securities Inc. assisted CMC as the financial advisor on this transaction.
CMC and its subsidiaries manufacture, recycle and market steel and metal products, as well as related materials and services through a network including steel minimills, steel fabrication and processing plants, construction-related product warehouses, a copper tube mill, metal recycling facilities and marketing and distribution offices in the United States and in strategic international markets.
Forward-Looking Statements This news release contains forward-looking statements regarding the sale of CMC Sisak and the sale of the excluded assets of CMC Sisak. These forward-looking statements generally can be identified by phrases such as we, the company or its management "expects," "anticipates," "believes," "estimates," "intends," "plans to," "ought," "could," "will," "should," "likely," "appears," "projects," "forecasts," "outlook," or other similar words or phrases. There are inherent risks and uncertainties in any forward-looking statements. Variances will occur and some could be materially different from our current opinion.
SOURCE Commercial Metals Company
Select the service that is right for you!COMPARE ALL SERVICES
- $2.5+ million portfolio
- Large-cap and dividend focus
- Intraday trade alerts from Cramer
- Weekly roundups
Access the tool that DOMINATES the Russell 2000 and the S&P 500.
- Buy, hold, or sell recommendations for over 4,300 stocks
- Unlimited research reports on your favorite stocks
- A custom stock screener
- Upgrade/downgrade alerts
- Diversified model portfolio of dividend stocks
- Alerts when market news affect the portfolio
- Bi-weekly updates with exact steps to take - BUY, HOLD, SELL
- Real Money + Doug Kass Plus 15 more Wall Street Pros
- Intraday commentary & news
- Ultra-actionable trading ideas
- 100+ monthly options trading ideas
- Actionable options commentary & news
- Real-time trading community
- Options TV