Commercial Metals Company announced that its subsidiary, Commercial Metals (International) AG, has closed the previously announced purchase of a controlling interest in Huta Zawiercie S.A.

Commercial Metals Company, headquartered in the Dallas suburb of Irving, Texas, today announced that its subsidiary, Commercial Metals (International) AG, has closed the previously announced purchase of a controlling interest in Huta Zawiercie S.A., of Zawiercie, Poland. CMC paid approximately $50 million (200 million Polish Zloty) cash to acquire the 71.1% of the outstanding shares of Huta Zawiercie formerly owned by Impexmetal S.A., Warsaw, Poland. The Polish State Treasury controls most of the remaining shares. After the closing, Huta Zawiercie's name will be changed to CMC Zawiercie S.A. to signify its strategic role in Commercial Metals Company's network of steel minimills, fabrication and processing facilities and marketing and distribution offices. Dr. Hanns Zoellner of CMC's Zug office will assume the management responsibility for oversight of the investment. CMC Zawiercie is the third largest steel producer in Poland with annual capacity estimated at one million metric tons. Facilities include two electric arc furnaces, ladle furnaces and casters. Principal products are rebar and wire rod produced on two separate rolling mills. Impexmetal acquired the shares through a privatization transaction in 1995 and has made continuous improvements to the operations while owning the controlling interest. Commercial Metals Company and subsidiaries manufacture, recycle and market steel and metal products, related materials and services through a network including steel minimills, steel fabrication and processing plants, construction-related product warehouses, a copper tube mill, metal recycling facilities and marketing and distribution offices in the United States and in strategic overseas markets.