Commercial Metals Co. (CMC) will continue its quest to recoup
higher yields of nonferrous scrap metal and improve margins by
upgrading the downstream systems at its auto shredding
facilities, the company said.
"In our Texas region,
we authorized and built out additional recovery systems for our
amm.com, Oct. 24) and will continue to do so at
other shredders where it makes sense," chairman, president and
chief executive officer Joseph Alvarado said during the
companys fiscal first-quarter earnings call Jan. 7. The
upgrade was completed in August and the Irving, Texas-based
steelmaker and metals recycler is pleased with the results, he
Americas Recycling segment reported an adjusted operating
profit of $800,000 for the three months ended Nov. 30, down
82.2 percent from $4.5 million in the year-ago period, on sales
that fell to $338.2 million from $351.9 million.
shipments totaled 559,000 tons in the quarter, down 0.5 percent
from 562,000 tons in the same period last year. Of this,
503,000 tons were ferrous and 56,000 tons were nonferrous, the
company said during the call.
Fewer shipments and
compressed metal margins in the recycling segment were offset
by gains from a sale of real estate and facility relocation
reimbursements, CMC said.