Commercial Metals Company and subsidiaries manufacture, recycle and market steel and metal products and related materials through a network of over 110 locations. The Manufacturing group includes 4 steel minimills, 20 steel fabrication plants, 4 steel joist plants, 4 steel fence post manufacturing plants, a heat treating plant, a railcar rebuilding facility, 12 concrete related product warehouses, 2 industrial products supply companies, a railroad salvage company and a copper tube mill. Recycling operations include 48 metal processing plants across the Sunbelt. Through its network of 16 trading offices around the world, the Company markets and trades primary and secondary metals, steel, ores, concentrates, industrial minerals, ferroalloys, chemicals and other materials used in a variety of industries, and also operates 3 warehouses and a heat treating plant in Australia.



CONTENTS

Where Our Sucess Comes From
Financial Highlights
Letter to Stockholders

Review of Operations
Manufacturing
Recycling
Marketing and Trading
Financial Section
Directors and Officers
Operations
Divisions and Subsidiaries