Steel manufacturer and recycler Commercial Metals (CMC) announces it's closing an unprofitable...

|About: Commercial Metals Company (CMC)|By:, SA News Editor

Steel manufacturer and recycler Commercial Metals (CMC) announces it's closing an unprofitable Croatian mill, and will cut 1,130 jobs in the process. The company expects to record FY11 pre-tax charges of $135M-$165M related to the closure, and an additional $25M-$40M in closure costs in 2012.