CMC acquires Yonack Iron & Metal Co.

Commercial Metals Co. of Irving, Texas, has entered into an agreement to purchase most of the assets of Yonack Iron & Metal Co. and Metallic Industries LLC. The deal is expected to close this summer.

Yonack operates scrap yards in Dallas and Forney, Texas.; Stroud, Okla.; and Lonoke, Ark. The Yonack operations will become a part of the CMC Recycling (CMCR) segment.

Alan Postel, CMCR president, says, "This addition brings to CMCR not only significant scrap processing equipment, including 1,200 roll-off boxes and containers with a modern truck fleet in tip-top condition to service industrial accounts, but also, and more importantly, an outstanding team of well-respected and energetic scrap metal professionals. We are excited to have the opportunity to work together to expand the business and build on Yonack's history of outstanding customer service."

Bob Yonack, president of Yonack Iron, says, "OMC is admired throughout the metals industry, and I am pleased that our employees will become part of [the] organization. Our existing customers can be assured of a continuing high level of service [which] combined with CMC's financial strength and over 90 years of industry experience, will result in a seamless transition."