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CMC sells portion of Croatia assets for $6.65M

Keywords: Tags  Commercial Metals, CMC, CMC Sisak, Croatia, pipe mill, sale, Danieli Group, Industrielle Beteiligung steel

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 Italy’s 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).

Sisak’s 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, Dec.

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