Commercial Metals Company Completes Southern California Land Sale

Commercial Metals Company (NYSE: CMC) has completed the sale of a large parcel of land in Rancho Cucamonga, California, generating gross proceeds of $313 million.

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Rhea-AI Summary

Commercial Metals Company (NYSE: CMC) has completed the sale of a large parcel of land in Rancho Cucamonga, California, generating gross proceeds of $313 million. This transaction, facilitated by Jones Lang LaSalle Brokerage, Inc., marks a significant financial move for the company. CMC specializes in manufacturing, recycling, and fabricating steel and metal products, supported by a diverse network of facilities across the United States and Poland.

Positive

Gross proceeds from land sale total $313 million.

Negative

None.

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News Market Reaction – CMC

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01/04/2022 - 06:45 AM

IRVING, Texas, Jan. 4, 2022 /PRNewswire/ -- Commercial Metals Company (NYSE: CMC) today announced the completion of its previously reported process to sell a large parcel of land in Rancho Cucamonga, California. The gross proceeds from this transaction total $313 million. CMC was represented in the transaction by Jones Lang LaSalle Brokerage, Inc., a global commercial real estate services provider.

About Commercial Metals Company

Commercial Metals Company and its subsidiaries manufacture, recycle and fabricate steel and metals products, and provide related materials and services through a network of facilities that includes seven electric arc furnace ("EAF") mini mills, two EAF micro mills, one rerolling mill, steel fabrication and processing plants, construction-related product warehouses, and metal recycling facilities in the United States and Poland.

View original content:https://www.prnewswire.com/news-releases/commercial-metals-company-completes-southern-california-land-sale-301453217.html

SOURCE Commercial Metals Company

FAQ

AI-generated questions and answers. How Rhea-AI works. Not financial advice.

What was the amount generated from CMC's land sale in Rancho Cucamonga?

Commercial Metals Company generated gross proceeds of $313 million from the sale.

Who represented CMC in the land sale transaction?

CMC was represented by Jones Lang LaSalle Brokerage, Inc.

What does Commercial Metals Company do?

CMC manufactures, recycles, and fabricates steel and metal products.

When was the land sale completed by CMC?

The land sale was completed on January 4, 2022.

What is the stock symbol for Commercial Metals Company?

The stock symbol for Commercial Metals Company is CMC.

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