Commercial Metals Company Acquires Advanced Steel Recovery

Commercial Metals Company (“CMC”) announced that as part of its strategic expansion in the Western U.S. it has acquired Advanced Steel Recovery, LLC (“ASR”), a leading supplier of recycled ferrous metals located in Southern California. ASR’s primary operations include processing and brokering capabilities that efficiently source material for sale into both the domestic and export markets. ASR handles approximately 300,000 tons of scrap annually across its processing, industrial collection, and brokerage platforms.

“The acquisition of ASR is a key strategic step to support CMC’s growth in the Western United States,” said Barbara Smith, Chairman of the Board, President, and Chief Executive Officer. “Our Arizona 2 micro mill remains on-track to startup in early calendar 2023, and with the commencement of operations will come the need for a secure, cost-effective supply of ferrous scrap. ASR’s capabilities will help ensure that both of CMC’s world class mills in Arizona will have continued reliable access to vital raw materials.”

About Commercial Metals Company

Commercial Metals Company and its subsidiaries manufacture, recycle and fabricate steel and metal products and provide related materials and services through a network of facilities that includes seven electric arc furnace (“EAF”) mini mills, two EAF micro mills, one rerolling mill, steel fabrication and processing plants, construction-related product warehouses, and metal recycling facilities in the United States and Poland. Through its Tensar division, CMC is a leading global provider of innovative ground and soil stabilization solutions selling into more than 80 national markets through its two major product lines: Tensar® geogrids and Geopier® foundation systems.

Source: Commercial Metals Company