CMC to make progress in Huta Zawiercie take over

CMC to make progress in Huta Zawiercie take over

According to recent market reports Commercial Metals AG which is a subsidiary of Commercial Metals Co. (CMC) located in Irving, Texas and was selected as the preferred bidder last month, has signed a definitive agreement regarding the purchase of 71.1% of the EAF based steel bar and rod producer Huta Zawiercie held by Impexmetal SA since privatization of Polish steel mill in 1995, against around $51 million (Zloty 199.3 million). Payment will be cash, as previously reported in SteelOrbis. It is expected that receiving the necessary approvals and meeting special conditions will take approximately three months.