Benzinga | Jul 21, 2020 06:34AM EDT

CMC Acquires Substantially All Assets Of GalvaBar

IRVING, Texas, July 21, 2020 /PRNewswire/ -- Commercial Metals Company (NYSE: CMC), today announced that its wholly owned subsidiary, CMC Steel Oklahoma, LLC, has acquired substantially all of the assets of AZZ's Continuous Galvanized Rebar business which, through a proprietary process, produces GalvaBar. GalvaBar is galvanized rebar with a zinc alloy coating that provides both superior corrosion protection and exceptional post-fabrication formability. GalvaBar operates out of a dedicated facility in Tulsa, Oklahoma, and its products are sold throughout the United States and the Caribbean.

Tracy Porter, Executive Vice President and Chief Operating Officer, commented, "We are thrilled to welcome the GalvaBar team to CMC. The acquisition of GalvaBar represents our commitment to executing on our strategy of being the leader in concrete reinforcement. The addition of GalvaBar's value-added products to our offering will enable us to better serve and support our customers' needs. We also believe that CMC's broad geographic footprint and distribution network will greatly enhance the reach of the GalvaBar product line."