Commercial Metals Company to Buy Assets of Reinforcing Post-Tensioning Services, Inc. and Affiliates in Expansion of Rebar Fabrication

IRVING, Texas, July 15 /PRNewswire-FirstCall/ -- Commercial Metals Company , headquartered in Irving, Texas, announced today that it has entered into a definitive agreement to purchase substantially all the operating assets of Reinforcing Post-Tensioning Services, Inc. (RPS), Regional Steel Corporation, and RPS Cable Corporation based in Claremont, California. RPS 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.

"This acquisition is part of our ongoing strategic expansion of CMC's downstream steel fabrication operations," said Murray McClean, President and Chief Executive Officer of Commercial Metals Company.

Russell Rinn, Executive Vice President of Commercial Metals Company and President of CMC Americas, added, "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."

Forward Looking Statements

Statements made in this press release that relate to future events, expectations, performance or financial results of CMC are forward-looking statements within the meanings of securities laws. CMC cautions that, by their nature, forward-looking statements involve risk and uncertainty. In particular there can be no assurance that the transaction disclosed in this press release will be completed or that financial or operational results resulting from the transaction will be advantageous to CMC. The forward-looking statements contained in this press release speak only as of this date, and the Company does not assume any obligation to update.

Commercial Metals Company and subsidiaries manufacture, recycle and market steel and metal products, related materials and services through a network including steel minimills, steel fabrication and processing plants, construction-related product warehouses, a copper tube mill, metal recycling facilities and marketing and distribution offices in the United States and in strategic international markets.

CONTACT: Debbie Okle, Director, Public Relations of Commercial Metals Company, +1-214-689-4354

Web site: http://www.cmc.com/

COPYRIGHT 2008 PR Newswire Association LLC
COPYRIGHT 2008 Gale, Cengage Learning