Commercial Metals Launches RebarZero™
On August 30, 2022, Commercial Metals Company (NYSE: CMC) announced the launch of RebarZero™, a pioneering line of rebar products featuring net-zero greenhouse gas emissions. This marks the industry's first product to offer a carbon-neutral profile throughout its production and delivery phases. CMC is also introducing net-zero steel across its mill product portfolio, including merchant bar and wire rods. CMC emphasizes its commitment to sustainability, stating that its products are manufactured using recycled scrap and efficient electric arc furnaces, significantly reducing greenhouse gas emissions compared to industry averages.
- Launch of RebarZero™, the first net-zero rebar product, enhancing CMC's innovative product offerings.
- Introduction of net-zero steel across the entire mill product portfolio, including additional products like merchant bar and wire rod.
- Strong commitment to sustainability, with products made from recycled materials and efficient manufacturing processes.
- None.
IRVING, Texas, Aug. 30, 2022 /PRNewswire/ -- Commercial Metals Company (NYSE: CMC) ("CMC") today announced the introduction of RebarZero™, a line of rebar products with net-zero greenhouse gas emissions. This offering will be the first of its kind to provide a carbon neutral profile from production to final delivery at the job-site, covering emissions on a scope 1, 2 and 3 basis. In conjunction with the launch of RebarZero™, CMC is also introducing net-zero steel across its entire mill product portfolio, including merchant bar, wire rod, and fence posts.
"Sustainability has been at the core of our Company since its founding as a single metals recycling yard over a century ago," said Barbara Smith, Chairman of the Board, President, and Chief Executive Officer. "The introduction of CMC's net-zero offering carries that proud legacy forward and ensures we remain at the forefront of our industry by providing customers with one of the lowest emissions steel products in the marketplace. RebarZero™ was developed to put our customers' projects at the leading edge of sustainable construction. Today's product launch further strengthens CMC's ability to provide innovative solutions for the construction and industrials markets across a wide breadth of end use applications."
CMC believes it operates one of the most efficient fleets of steel mills in the world and is a long-time leader in environmentally friendly and sustainable steelmaking. All of CMC's steel products are made using recycled scrap in cost efficient electric arc furnaces. On a per ton basis, the greenhouse gas emissions, energy intensity, and water usage of CMC's mills are just a fraction of the domestic and global industry average. To learn more about RebarZero™, including the usage of renewable energy credits and high-quality carbon offsets to neutralize scope 1, 2, and 3 carbon emissions, please visit: https://www.cmc.com/zero.
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.
Forward-Looking Statements
This news release contains forward-looking statements within the meaning of the federal securities laws with respect to the carbon neutral profile of RebarZeroTM and other products in our portfolio, our position in the industry as a provider of low emissions steel products, and our expectations or beliefs concerning future events, particularly with respect to sustainability initiatives. The statements in this release that are not historical statements, are forward-looking statements. These forward-looking statements can generally be identified by phrases such as we or our management "believes," "will," or other similar words or phrases, as well as by discussions of strategy, plans, or intentions.
Our forward-looking statements are based on management's expectations and beliefs as of the time this news release was prepared. Although we believe that our expectations are reasonable, we can give no assurance that these expectations will prove to have been correct, and actual results may vary materially. Except as required by law, we undertake no obligation to update, amend or clarify any forward-looking statements to reflect changed assumptions, the occurrence of anticipated or unanticipated events, new information or circumstances or any other changes. Important factors that could cause actual results to differ materially from our expectations include those described in our filings with the Securities and Exchange Commission, including, but not limited to, in Part I, Item 1A, "Risk Factors" of our annual report on Form 10-K for the fiscal year ended August 31, 2021, and Part II, Item IA, "Risk Factors" of our subsequent quarterly reports on Form 10-Q, as well as the following: changes in economic conditions which affect demand for our products or construction activity generally, and the impact of such changes on the highly cyclical steel industry; rapid and significant changes in the price of metals, potentially impairing our inventory values due to declines in commodity prices or reducing the profitability of our downstream contracts due to rising commodity pricing; impacts from COVID-19 on the economy, demand for our products, global supply chain and on our operations, including the responses of governmental authorities to contain COVID-19 and the impact of various COVID-19 vaccines; excess capacity in our industry, particularly in China, and product availability from competing steel mills and other steel suppliers including import quantities and pricing; the impact of the Russian invasion of Ukraine on the global economy, energy supplies and raw materials, which is uncertain, but may prove to negatively impact our business and operations; compliance with and changes in existing and future laws, regulations and other legal requirements and judicial decisions that govern our business, including increased environmental regulations associated with climate change and greenhouse gas emissions; involvement in various environmental matters that may result in fines, penalties or judgments; evolving remediation technology, changing regulations, possible third-party contributions, the inherent uncertainties of the estimation process and other factors that may impact amounts accrued for environmental liabilities; potential limitations in our or our customers' abilities to access credit and non-compliance of their contractual obligations, including payment obligations; activity in repurchasing shares of our common stock under our repurchase program; financial covenants and restrictions on the operation of our business contained in agreements governing our debt; our ability to successfully identify, consummate and integrate acquisitions, and the effects that acquisitions may have on our financial leverage; risks associated with acquisitions generally, such as the inability to obtain, or delays in obtaining, required approvals under applicable antitrust legislation and other regulatory and third party consents and approvals; operating and startup risks, as well as market risks associated with the commissioning of new projects could prevent us from realizing anticipated benefits and could result in a loss of all or a substantial part of our investments; lower than expected future levels of revenues and higher than expected future costs; failure or inability to implement growth strategies in a timely manner; impact of goodwill impairment charges; impact of long-lived asset impairment charges; currency fluctuations; global factors, such as trade measures, military conflicts and political uncertainties, including changes to current trade regulations, such as Section 232 trade tariffs and quotas, tax legislation and other regulations which might adversely impact our business; availability and pricing of electricity, electrodes and natural gas for mill operations; ability to hire and retain key executives and other employees; competition from other materials or from competitors that have a lower cost structure or access to greater financial resources; information technology interruptions and breaches in security; ability to make necessary capital expenditures; availability and pricing of raw materials and other items over which we exert little influence, including scrap metal, energy and insurance; unexpected equipment failures; losses or limited potential gains due to hedging transactions; litigation claims and settlements, court decisions, regulatory rulings and legal compliance risks; risk of injury or death to employees, customers or other visitors to our operations; and civil unrest, protests and riots.
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SOURCE Commercial Metals Company
FAQ
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