CMC acquires Huta Zawiercie

CMC acquires Huta Zawiercie

Commercial Metals Company (CMC) announced that its subsidiary Commercial Metals AG has completed the purchase of 71.1% stake in Poland's Huta Zawiercie held by Impexmetal SA, against around $50 million cash. After this acquisition, Huta Zawiercie's name will be changed to CMC Zawiercie SA to signify its strategic role in CMC's network of steel minimills, processing facilities and marketing and distribution offices. Huta Zawircie is the third largest steel producer in Poland with an annual capacity of 1 million mt. Facilities include two electric arc furnaces, ladle furnaces and casters. The company produces rebar and wire rod on two separate rolling mills.