November 20, 2008

CMC buy assets of RPS and affiliates in expansion of rebar fabrication

Commercial Metals Company announced that it has entered into a definitive agreement to purchase substantially all the operating assets of Reinforcing Post Tensioning Services Inc, Regional Steel Corporation, and RPS Cable Corporation based at Claremont in California.

Reinforcing Post Tensioning Services is a fabricator and installer of concrete reinforcing steel, post tensioning cable and related products for commercial and public construction projects with facilities in Fontana and Tracy, California and Las Vegas, Nevada with annual capacity of approximately 150,000 tons.

Completion of the acquisition is contingent upon regulatory approval and satisfaction of other closing conditions which are expected to be finalized within 60 days. At closing, the acquired assets will operate as part of the CMC Americas Fabrication and Distribution segment.

Mr Murray McClean president & CEO of Commercial Metals Company said that "This acquisition is part of our ongoing strategic expansion of CMC's downstream steel fabrication operations.”

Mr Russell Rinn executive VP of Commercial Metals Company & president of CMC Americas added that "The addition of the outstanding RPS/Regional Steel team to the existing CMC team in California and Nevada will further enhance our ability to provide the best solutions and best service for our customers in these important markets. We are excited to have this dynamic group become a part of our CMC family."