Commercial Metals Company Receives Air Quality Permit For Third Micro Mill
Commercial Metals Company (NYSE: CMC) has received an operating air permit from the Maricopa County Air Quality Department on April 23, enabling the construction of its third micro mill, named Arizona 2, at the Mesa, Arizona site.
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Rhea-AI Summary
Commercial Metals Company (NYSE: CMC) has received an operating air permit from the Maricopa County Air Quality Department on April 23, enabling the construction of its third micro mill, named Arizona 2, at the Mesa, Arizona site. This project will be the first micro mill globally to produce both merchant bar and rebar. The facility will utilize environmentally friendly steelmaking technology and connect to an on-site renewable energy source, enhancing energy efficiency and reducing emissions. Commissioning is expected in spring 2023.
Positive
- Received operating air permit, allowing construction of Arizona 2 micro mill.
- Arizona 2 will be the first micro mill globally to produce merchant bar and rebar.
- Facility will utilize environmentally friendly technology and connect to renewable energy.
Negative
- None.
Details
News Market Reaction – CMC
The recorded move for CMC in the trading session of this news was -5.65%.
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IRVING, Texas, May 12, 2021 /PRNewswire/ -- Commercial Metals Company (NYSE: CMC) today announced that the Maricopa County Air Quality Department on April 23 granted it an operating air permit, enabling the Company to begin construction of its third technologically advanced micro mill, the second at its Mesa, Arizona site.
"Receiving the air permit is an important milestone in our latest micro mill project, which we have named Arizona 2," said Tracy Porter, Executive Vice President and Chief Operating Officer. "With the permit in hand, we can now begin construction in preparation for installation of the mill equipment, which we ordered last year. We still anticipate commissioning to occur during the spring of 2023."
"Once completed, Arizona 2 will be the first micro mill in the world to produce merchant bar as well as rebar, and will employ the latest in environmentally friendly steelmaking technology. The plant's capability to directly connect to an on-site renewable energy source, a first in North America, will further enhance the low emissions and highly efficient energy consumption of the micro mill process. We are excited by Arizona 2's potential and the operational efficiencies, network flexibility, market access, and environmental benefits it will provide," Porter added.
"Mesa prioritizes decision-making that supports a sustainable future for our environment, and we are pleased to see CMC is setting the standard for environmentally-friendly steelmaking," said Mesa Mayor John Giles. "We are proud to have a long-standing partnership with CMC in Mesa and look forward to their continued success as leaders in their industry."
About Commercial Metals Company
Commercial Metals Company and its subsidiaries manufacture, recycle and fabricate steel and metal products, related materials and services through a network of facilities that includes seven electric arc furnace ("EAF") mini mills, two EAF micro mills, a rerolling mill, steel fabrication and processing plants, construction-related product warehouses, and metal recycling facilities in the U.S. and Poland.
View original content:http://www.prnewswire.com/news-releases/commercial-metals-company-receives-air-quality-permit-for-third-micro-mill-301289718.html
SOURCE Commercial Metals Company
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