Commercial Metals Co. (CMC) 2009年年度报告「NYSE」.pdf

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1、CommerCial metals Company 2009 annual report Its been a tough year for the steel Industry.WhIle tough years naturally challenge us,commercIal metals Is buIlt to WIthstand volatIle economIc cycles.We have done so for 94 years,through booms,busts,recessIons and Worse.one reason for our success Is our

2、commItment to safe,prudent polIcIes.safety may not be glamorous.but Its safe to say Its helped us serve customers and all of our stakeholders for nearly a century.SafetyfirStSecond At CMC,people are our most precious asset.Thats why were especially proud that one of CMCs steel mills has been named t

3、he safest mill in Americafor the seventh consecutive year!The most recent recognition went to CMC Steel Alabama.Every CMC mill has earned the safest mill in America distinction at least once.The culture of safety at CMC extends to our conservative,prudent financial management.We focus on a strong ba

4、lance sheet,liquidity,quality of assets and debt covenant compliance.CMC is one of the few steel companies with investment grade public debt ratings.In this down cycle,we are generating cash by working capital management,destocking and aggressively reducing costs.Secondthird The culture of safety at

5、 CMC extends to our conservative,prudent financial management.We focus on a strong balance sheet,liquidity,quality of assets and debt covenant compliance.CMC is one of the few steel companies with investment grade public debt ratings.In this down cycle,we are generating cash by working capital manag

6、ement,destocking and aggressively reducing costs.CMC gains a measure of safety in volatile economic climates through vertical integration,product diversi-fication and geographic dispersion.By not relying exclusively on any one segment of the industry,product class or market region,we are in a better