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
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."
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.