CMC selling stake in Czech long products firm

Nov 05, 2012 | 02:36 PM | Michael Cowden

Tags  Commercial Metals, CMC, Joe Alvarado, Trinecke Zelezarny, Moravia Steel, divestiture, Czech Republic, pipe mill Croatia

CHICAGO — Commercial Metals Co. (CMC) plans to sell its 11-percent stake in Czech long products firm Trinecke Zelezarny AS to Moravia Steel AS for $29 million.

The Irving, Texas-based steelmaker said Monday that the sale, conducted through its Commercial Metals International GmbH subsidiary, reflects its strategy of divesting noncore businesses.

Moravia Steel, a Czech trading company, is the majority owner of Trinecke, according to the company’s website.....




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