Commercial Metals Company announced today that on Friday, June 10, 2016, the Company, through its wholly owned Australian subsidiary, G.A.M. Steel Pty. Ltd., signed a definitive asset sale agreement to sell its remaining steel distribution assets located in Australia.
The facility, located in Melbourne, Victoria, distributes and processes primarily long steel products. The transaction is expected to close in July 2016 and is subject to customary closing adjustments.