Commercial Metals Company History

Commercial Metals Company (CMC) started back in 1932 when the company name was established with a capital of $100,000. It all started a few years earlier in 1915 when Moses Feldman organized his first scrapyard in Dallas, TX. Moses owned a company called American Iron & Metals until handing it over to his son Jacob in 1932. In 1936, Jacob Moses signs with CMC listing $51,000 worth of metal in their inventory. Over the next few years CMC began acquiring numerous businesses including the acquisition of Hutchison Pipe & Waste Material Company in Fort Worth, TX. In 1947, a cornfield is bought by a Mr. Marvin Selig in Seguin, TX, and is the property in which Structural Metals, Inc. (SMI) will be constructed. By 1952, CMC was now chartering whole ships to send metal products to Asia and Europe, and in 1960 the company decided to go public in the stock exchange. This making it the first secondary metals company to get listed on a major stock exchange. CMC by this point is growing exponentially opening its first office in Tokyo, Japan in 1961. Later CMC had Mr. Selig sign his company SMI to merger with them in 1963. …show more content…
By the year 1970, CMC was named a Fortune 500 company for their first time. That same year a man by the name of Charles Merritt, who had been working at the company since 1937, became president. By 1978, CMC is continuing to buy out businesses with its gaining of Price Steel in Houston, TX. This was a fence post finishing company, that was renamed Southern Post Company after its purchase. Then in 1979, CMC appoints a new president and chief executive officer a 40-year-old man named Stanley