Commercial Metals Company (CMC) has announced its plan to exit its International Marketing and Distribution Segment. As an initial step in this plan, on June 12, 2017, CMC signed a definitive agreement to sell its raw materials trading division, CMC Cometals, to Traxys North America L.L.C. and Traxys Europe S.A., which are affiliates of The Carlyle Group. In addition, the Company announced its plan to pursue a sale of its CMC Cometals Steel division located in Irving, Texas, which markets steel products, as well as a restructuring and sale of the remaining trading operations located in Asia and Australia.
CMC Cometals markets, distributes and processes metal, ores, concentrates, industrial minerals, ferroalloys, chemicals and industrial products worldwide. The transaction is expected to close later this summer and is subject to customary closing conditions and regulatory approvals.
Eli Skornicki, President of Cometals, said, “Under the new ownership structure, the Cometals team will continue to operate from its current locations in the US, China, Benelux and Russia."