Leading US long steel producer Commercial Metals Company has completed the process of land selling on 4 January 2022. The company sold a large parcel of land in Rancho Cucamonga in California, where the company had earlier operated a 680,000 ton steel meltshop and 500,000 tons rebar mill. The benefit from the deal amounted to USD 313 million. The funds will be used to partially offset the cost of the company's new Arizona 2 micro-mill.Customers of Its rebar operations will be serviced from other CMC fabrication locations, while the sold site is expected to be repurposed for other industrial usesCMC was represented in the transaction by Jones Lang LaSalle Brokerage Inc, a global commercial real estate services provider.
Leading US long steel producer Commercial Metals Company has completed the process of land selling on 4 January 2022. The company sold a large parcel of land in Rancho Cucamonga in California, where the company had earlier operated a 680,000 ton steel meltshop and 500,000 tons rebar mill. The benefit from the deal amounted to USD 313 million. The funds will be used to partially offset the cost of the company's new Arizona 2 micro-mill.Customers of Its rebar operations will be serviced from other CMC fabrication locations, while the sold site is expected to be repurposed for other industrial usesCMC was represented in the transaction by Jones Lang LaSalle Brokerage Inc, a global commercial real estate services provider.