TORONTO Commercial Metals
Co. has completed the sale of certain assets related to its
former pipe mill in Croatia for $6.65 million.
The Irving, Texas-based
steelmaker said Wednesday that the assets, part of its former
CMC Sisak d.o.o. subsidiary, were sold to an undisclosed and
unaffiliated third party.
A CMC spokeswoman declined to
comment further Thursday on either the specific assets sold or
the identity of the buyer. CMC still controls parts of CMC
Sisak and continues to look for possible buyers.
The most recent sale does not
include the facilities sold earlier this month to Industrielle
Beteiligung SA, part of Italys Danieli Group, for $30.4
million (AMM, June 5).
The steelmaker exited its pipe
mill business in Croatia after the facility chalked up
continuous losses and technical problems drained resources from
the company (AMM, March 29).
Sisaks melt shop is capable of making 450,000 tons per
year of round steel blooms. Its rolling mill made seamless
boiler pipes, line pipe and oil country tubular goods (OCTG),
as well as materials for the construction market (AMM,