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History of CMC - Commercial Metals Company

CMC Profile (Commercial Metals Company) History of CMC

In 2024, we estimate that CMC produced ~6.3 million tonnes (mt) of liquid steel. Of this prouction, roughly 75% was in North America and ~25% was in Europe (Poland).

Commercial Metals Company Timeline

  • Family Origins (1915-1950s): Founded as American Iron & Metal family scrap business in Dallas, renamed to CMC in 1932, began rebar production and regional expansion across USA
  • Strategic Growth (1960s-1990s): Acquired key steel assets including Structural Metals EAF steelmaker, expanded through scrap processing acquisitions, became Fortune 500 company
  • Market Consolidation (2000s-2010s): Acquired rebar operations in California, entered European market with Huta Zawiercie in Poland, invested in innovative micro-mill technology
  • Technology Leadership (2010s-2020s): Built advanced Danieli micro-mills in Arisona and Oklahoma, acquired specialised businesses like Galvabar, expanded processing capabilities
  • Executive Transition (2020s-2025): Barbara Smith retired after successful leadership, Peter Matt appointed as new CEO, continued strategic acquisitions including EDSCO Fasteners
  • Industry Recognition (2024-2026): Named to TIME's America's Best Mid-Size Companies list and Newsweek's America's Greatest Companies 2026 list, maintains strong market position in rebar and recycling sectors
Timeline demonstrates steady, disciplined growth from family scrap business to major steel producer. This reflects the benefits of consistent strategy execution and market focus over more than a century of operations.

The timeline below covers the history of the firm.

  • 1915: American Iron & Metal founded 1915 as a family scrap metal facility in Dallas.
  • 1932: Adopts present name – Commercial Metals Company.
  • 1949: Purchases assets of Southern Iron & Metal in Beaumont, Texas – starts rebar production.
  • 1951: Opens recycling plant in San Antonio, Texas.
  • 1953: Acquires Charles Harley, a Californian scrap metals processor.
  • 1957: Buys Liberty Iron and Metal Co in Dallas.
  • 1963: Acquires 73% equity stake in Seguin-based EAF steelmaker Structural Metals in Texas.
  • 1970: Named a Fortune 500 company.
  • 1983: Acquires the Connors mini-mill in Birmingham, Alabama.
  • 1994: Purchases Owen Steel structural steel fabrication business in South Carolina for $50 m.
  • 1995: Acquires three more Texas -based scrap processing businesses.
  • 2000: Acquires Fontana Steel’s rebar processing operations on California.
  • 2003: Acquires majority stake in Zawiercie EAF melt shop and rebar plant in Poland.
  • 2009: Invests in ~250 kt / year Danieli micro-mill in Mesa, Arisona.
  • 2017: Barbara R Smith appointed as Chief Executive Officer.
  • 2018: Invests in ~320 kt / year MIDA in Durant, Oklahoma.
  • 2020: Purchases Galvabar, a manufacturer of galvanised rebar in Catoosa, Oklahoma.
  • 2022: Acquires another ferrous scrap collection firm - Advanced Steel Recovery LLC, in California.
  • 2023: Invests in another Danieli micro mill with 500kt / year capacity in Mesa Arisona.
  • 2023: Acquires EDSCO Fasteners LLC from MiddleGround Capital.
  • 2023: Barbara Smith retires. Peter Matt appointed as new CEO in planned succession.
  • 2024: CMC added to TIME's America's Best Mid-Size Companies 2024 List.
  • 2024: Loses $110 million antitrust verdict in Pacific Steel Group litigation.
  • 2025: Announces plan to acquire Foley Products Company for purchase price of $1.84 billion.
  • 2026: Named to Newsweek's America's Greatest Companies 2026 list.

Notes
  • 1995: These acquisitions comprised Atlas Iro and Metal, Federal Iron and Metal and Laredo Scrap Metals.
  • 2000: Purchases included the rebar fabrication operations at Rancho Cucamonga and at San Marcos.
  • 2003: CMC paid approximately $50 million cash to acquire a 71 percent of the outstanding shares of Huta Zawiercie.
  • 2009: Danieli micro mill (also known as a MIDA mill) involves endless casting and rolling and does away with billet reheating. The technology thus offers significant yield, energy cost and productivity benefits compared to traditional rebar production methods.
  • 2020: GalvaBar operates out of a dedicated facility in Tulsa, Oklahoma, and its products are sold throughout the United States and the Caribbean.
  • 2023: EDSCO is a leading provider of anchoring solutions for the electrical transmission market. Products include anchor cages, bolts, and fasteners that are manufactured principally from rebar and used primarily to secure high voltage electrical transmission poles to concrete foundations. EDSCO's manufacturing plants are located in Texas, Utah, Tennessee, and North Carolina.
  • 2023: Peter Matt became President and CEO of CMC. He was appointed President in April 2023 and Chief Executive Officer in September 2023, taking over from Barbara Smith on her retirement.
  • 2024: Pacific Steel Group filed an antitrust lawsuit claiming CMC conspired with Danieli Corporation to prevent PSG from building a competing micro mill in Southern California by securing an exclusive 500-mile radius agreement. The November 2024 jury verdict of $110 million will be trebled under antitrust law to $330 million plus attorney fees, resulting in a $265 million litigation expense charge in CMC's Q1 fiscal 2025 results. CMC announced plans to appeal the verdict.
  • 2025: The Foley Products Company is the largest regional supplier of precast concrete solutions in the United States and leader within the Southeastern U.S.
  • 2026: The annual ranking, developed by Newsweek in partnership with Plant-A Insights Group, recognises 650 U.S. companies based on financial leadership, innovation, performance as an employer and sustainability.