Jul 17 2008
Commercial Metals Company, headquartered in Irving, Texas, announced today that it has entered into a definitive agreement to purchase substantially all the operating assets of Reinforcing Post-Tensioning Services, Inc. (RPS), Regional Steel Corporation, and RPS Cable Corporation based in Claremont, California.
RPS is a fabricator and installer of concrete reinforcing steel, post-tensioning cable and related products for commercial and public construction projects with facilities in Fontana and Tracy, California, and Las Vegas, Nevada with annual capacity of approximately 150,000 tons. Completion of the acquisition is contingent upon regulatory approval and satisfaction of other closing conditions which are expected to be finalized within 60 days. At closing, the acquired assets will operate as part of the CMC Americas Fabrication and Distribution segment.
"This acquisition is part of our ongoing strategic expansion of CMC's downstream steel fabrication operations," said Murray McClean, President and Chief Executive Officer of Commercial Metals Company.
Russell Rinn, Executive Vice President of Commercial Metals Company and President of CMC Americas, added, "The addition of the outstanding RPS/Regional Steel team to the existing CMC team in California and Nevada will further enhance our ability to provide the best solutions and best service for our customers in these important markets. We are excited to have this dynamic group become a part of our CMC family."
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