Commercial Metals Company (NYSE: CMC) today announced that it has selected Berkeley County, West Virginia, as the site of its fourth micro mill (MM4). The project, budgeted to cost approximately $450 million net of incentives, is expected to have an annual capacity of 500,000 tons and employ approximately 230 people on a full-time basis. MM4 will be capable of producing various sizes of both straight length and spooled rebar. Based on anticipated timelines for permitting and construction, the new plant is scheduled to begin operations in late calendar 2025.
Barbara R. Smith, Chairman of the Board, President and Chief Executive Officer, said, “We are pleased to enter the next phase of this exciting investment, and to establish CMC’s manufacturing presence in West Virginia. The state offers several attractive advantages for MM4, including a welcoming business climate and a skilled available labor force. The planned site, located in the eastern panhandle of the state near Martinsburg, is well-situated to serve key metropolitan markets in the Mid-Atlantic and Northeast, as well as the Midwest.”
Ms. Smith continued, “MM4 is a core component of CMC’s strategic growth plan and will help ensure our long-term competitiveness in critical geographical markets. We believe this new micro mill, among the most environmentally friendly steelmaking operations in the world, will strengthen our operational network throughout the Eastern U.S. by achieving synergies with our existing mill and downstream facilities.”
“We thank Governor Jim Justice, the entire West Virginia economic development team, and the dedicated Berkeley County staff for their support during the site selection process and for the welcome given to this important project. We look forward to becoming a vital part of the Berkeley County community and growing our presence in the Mountain State.”
About Commercial Metals Company
Commercial Metals Company and its subsidiaries manufacture, recycle and fabricate steel and metal 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. Through its Tensar division, CMC is a leading global provider of innovative ground and soil stabilization solutions selling into more than 80 national markets through its two major product lines: Tensar® geogrids and Geopier® foundation systems.
