Commercial Metals Company to acquire assets of Allegheny Heat Treating Co., Inc.

DALLAS--(BUSINESS WIRE)--Dec. 11, 1996--Commercial Metals Company (NYSE: CMC) headquartered in Dallas, today announced it has entered into an agreement to acquire substantially all of the operating assets of Allegheny Heat Treating Co., Inc. (AHT), of Chicora, Pennsylvania.

AHT is privately owned and has furnished custom steel heat treating services since 1978 to various steel mills and customers, including the SMI steel minimills of the CMC Steel Group. AHT can process approximately 30,000 tons of steel per year. Heat treating of steel improves strength-to-weight ratios and is utilized where high tensile material is required, such as truck trailer manufacturing. In making the announcement, CMC President and Chief Executive Officer Stanley A. Rabin said: "AHT is a good fit with CMC. Our intention is to continue the operation as conducted by the majority owners, Walter and Pat Barnett. We anticipate increasing demand for heat treated steel products including those supplied by SMI."

This transaction is expected to close shortly after the first of the year. The Barnett's will remain as consultants to the company for a period of time after the closing. The operation, to be known as Allegheny Heat Treating, will be a part of the CMC Steel Group.

Commercial Metals Company and subsidiaries manufacture, recycle and market steel and metal products, related materials and services through a network of over 90 locations including 4 steel minimills, 19 steel fabrication plants, 3 steel joist plants, 4 steel fence post manufacturing plants, 2 railcar rebuilding facilities, 11 concrete related product warehouses, 2 industrial products supply companies, a copper tube mill, 37 metal recycling facilities and 15 marketing and trading offices in the United States and in strategic overseas markets.

CONTACT: Commercial Metals Company, Dallas

Debbie L. Okle, Director, Public Relations,

214/689-4354