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Mergers & Acquisitions
Original Press Release
Commercial Metals Company Signs Definitive Asset Purchase Agreement for Purchase of Steel Fabrication Business of Associated Steel Workers, Limited
Press release date: Oct 26, 2016
Tracy Porter, CMC's Executive Vice President-CMC Operations, commented: "The signing of the asset purchase agreement for the acquisition of ASW's steel fabrication business continues CMC's vertical integration strategy by extending our geographic reach and establishing a fabrication operation in Hawai'i. We are excited to expand our presence in the Hawaiian market and to continue ASW's long-established tradition of providing quality products and services to its customers."
Ronald Fujikawa, President and CEO of ASW stated: "From our humble beginnings in 1948, ASW has sought to be a leader in the construction industry. In deciding to sell the rebar business, we sought and, we believe we found, a good partner that would continue our legacy. Over the last 5 years, we have worked with CMC on various projects and believe CMC can continue to provide the same, if not better, service to our customers and treatment of our employees, some of whom have decades of loyal service to the company. We'd like to thank our loyal employees and customers for helping to make ASW the company it is today."
About Commercial Metals Company
Commercial Metals Company and its 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, metal recycling facilities and marketing and distribution offices in the United States and in strategic international markets.
SOURCE Commercial Metals Company
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