Commercial Metals Company (NYSE: CMC) 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.

For the third fiscal quarter ended May 31, 2016, CMC anticipates recording a non-cash impairment charge in the range of $14.0 - $16.0 million in its results from discontinued operations, including the impact of an approximate $13.5 million accumulated foreign currency translation loss.

About Commercial Metals Company

Commercial Metals Company and its subsidiaries manufacture, recycle and market steel and metal products, related materials and services through a network including steel minimills, steel fabrication and processing plants, construction-related product warehouses, metal recycling facilities and marketing and distribution offices in the United States and in strategic international markets.