Italian Danieli Group Buys Sisak Steel Mill

The US Commercial Metals Company (CMC) concluded the sale of its Croatian Pipe Mill and wholly-owned subsidiary CMC Sisak to the Danieli Group of Italy worth $30,4 million.

The CEO and President of CMC, Joe Alvarado stated that the company is delighted that its Croatian pipe mill operations have been sold to Danieli. „Completing the sale of CMC Sisak’s outstanding shares is considered to be significant in the company’s plan to relocate the business for increased shareholder value and enhanced fiscal performance. The company stays committed to its plan of vertical integration, a continuous development of overall cost structure and offering customers with excellent service“, Alvarado said.

 CMC bought the Sisak steel mill in 2007 and at the end of 2011 it announced that it had decided to sell the factory. The Danieli Group is one of the world’s three biggest suppliers of steel products. The Steel Mill will begin working by the end of the year.