Commercial Metals Company Announces Sale Of 100% Ownership Interests In Howell
IRVING, Texas, Oct.17, 2013
IRVING, Texas, Oct.17, 2013 /PRNewswire/ --Commercial Metals Company (NYSE:
CMC) announced today that it has completed the sale of 100% of the stock of
its wholly-owned subsidiary, Howell Metal Company, to Mueller Copper Tube
Products, Inc., a subsidiary of Mueller Industries, Inc., for a purchase price
of approximately U.S. $58.5 million, subject to customary purchase price
Joe Alvarado, Chairman of the Board, President and Chief Executive Officer,
commented, "We are appreciative of the many years of contributions by the
management and workforce at Howell Metal Company.This sale continues our
commitment to our stockholders of focusing our efforts on the core operations
of Commercial Metals Company."
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, metal recycling facilities and
marketing and distribution offices in the United States and in strategic
This news release contains forward-looking statements regarding the closing of
the sale of Howell Metal Company. 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
Contact: Barbara Smith, Chief Financial Officer, 214-689-4300
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