NEW YORK Commercial Metals Co. (CMC) has sold its wholly owned Howell Metal Co. subsidiary to Mueller Copper Tube Products Inc., part of Mueller Industries Inc., for about $58.5 million.
Howell Metal operates a copper tube mill in New Market, Va., as well as four distribution warehouses. It produces copper tube for the plumbing, heating, ventilation, and air conditioning, and refrigeration markets.
Memphis, Tenn.-based Mueller Industries manufactures and distributes copper tube and fittings; brass and copper alloy rod, bar and shapes; aluminum and brass forgings; aluminum and copper impact extrusions; plastic fittings, pipe and valves; refrigeration valves and fittings; and fabricated tubular products. It has facilities in the United States, Canada, Mexico, China and Great Britain.
"We are appreciative of the many years of contributions by the management and work force at Howell Metal Co.," CMC president and chief executive officer Joseph Alvarado said in a statement. "This sale continues our commitment to our stockholders of focusing our efforts on the core operations of Commercial Metals Co."
Irving, Texas-based CMC and its subsidiaries manufacture, recycle and market steel and metals products, as well as related materials and services, through a network including steel mini-mills, steel fabrication and processing plants, construction-related product warehouses, metals recycling facilities and marketing and distribution offices in the United States and international markets.