Market
November 15, 2022
CMC Acquires Texas Scrap Facility From Kodiak Resources
Written by Laura Miller
Longs producer and scrap recycler Commercial Metals Co. (CMC) has acquired a metals recycling facility in the Galveston, Texas, area. Terms of the deal were not disclosed.
CMC acquired the facility and assets from Kodiak Resources Inc. and Kodiak Properties LLC.
The majority of the 55,000 tons per year of ferrous and non-ferrous material processed at the facility are obsolete ferrous grades that will be used by CMC’s long product mills.
“The transaction is expected to enhance the security and supply of competitively priced inputs to CMC’s steelmaking operations,” the company said.
Based in Irving, Texas, CMC currently operates 16 recycling facilities throughout the state. It operates nine steel mills and a handful other recycling operations in the southern US, and another mill in New Jersey. Additionally, it has operations in Poland and a trading branch in Beijing.
By Laura Miller, Laura@SteelMarketUpdate.com
The post CMC Acquires Texas Scrap Facility From Kodiak Resources appeared first on Steel Market Update.
