CMC Poland ops hit hard by ‘deluge’ of imports

Jan 08, 2013 | 11:30 AM | Michael Cowden

Tags  Commercial Metals, CMC, Barbara Smith, Joe Alvarado, earnings, first quarter, CMCZ, Zawiercie Poland

CHICAGO — Commercial Metals Co.’s (CMC’s) steel mill in Zawiercie, Poland, continues to be hit hard by a “deluge” of imports and slack demand resulting from the European economic crisis, CMC executives said Monday.
CMC Zawiercie SA (CMCZ), the Irving, Texas-based steelmaker’s Polish subsidiary, recorded adjusted operating income of just $876,000 in its fiscal 2013 first quarter compared with $9.8 million in the year-ago period, CMC chief financial officer Barbara Smith said during a conference call to discuss earnings results Monday. ....

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