Commercial Metals Company and the State of Oklahoma announced Monday that CMC has selected Durant, Oklahoma, as the location for construction of its second technologically advanced micro mill.
This new investment in Oklahoma will mirror CMC's existing micro mill in Mesa, Arizona and will be built with improved technology developed from CMC's operating experience with the world's first micro mill, which CMC successfully commissioned in Mesa in 2009. The addition of a second micro mill to CMC's portfolio of highly efficient, customer focused and cost effective steel production facilities will enhance CMC's position as a leading supplier of long products in the
US market.
Joe Alvarado, Chairman, President and CEO of CMC, said, "The location of the mill in Durant, Oklahoma, 80 miles north of Dallas, Texas, will allow
us to better serve a growing North Texas market as well as expand into markets in Oklahoma, Kansas, Nebraska, Arkansas and Missouri. The facility will produce low cost, high quality steel products, which will complement our existing manufacturing capability to better serve our customers. This new micro mill will also complement CMC's existing recycling and fabrication footprint, enhancing CMC's ability to further leverage our raw material supply chain and optimize product mix within our existing operations."
The Oklahoma micro mill, utilizing Danieli technology and equipment, is expected to be commissioned in the fall of 2017 and to create approximately 300 jobs in the Durant area. The direct and indirect investment is expected to be in excess of approximately $250 million. CMC expects that its investment will be funded from internally generated capital.