Trade Cases
CMC Buys Post-Tension Cable Firm Tendon Systems
March 20, 2023
Commercial Metals Co. (CMC) said it has acquired post-tension cable company Tendon Systems LLC.
Suwanee, Ga.-based Tendon supplies post-tensioning, barrier cable, and concrete restoration solutions in the southeastern US.
CMC said Tendon’s products are used in a variety of construction projects including multi-family residential, parking structures, industrial, and high-rise buildings. The company had revenues of ~$60 million in 2022. Further details of the transaction were not provided.
“This acquisition further advances our leadership position in construction reinforcement, complements our existing position in post-tensioning cable, and provides CMC with additional capabilities to serve our customers,” Barbara R. Smith, CMC chairman, president, and CEO, said in a statement on Monday.
CMC noted that Tendon’s primary offering, post-tension cable, is used in conjunction with rebar.
Irving, Texas-based CMC is a long products steelmaker and scrap recycler. Earlier this month it announced the acquisition of scrap recycler Roane Metals.
By Ethan Bernard, ethan@steelmarketupdate.com
Latest in Trade Cases
U.S. Steel sues Algoma over iron pellet shipments
U.S. Steel is suing Algoma over the Canadian flat-rolled producer's rejection of iron pellet shipments, arguing it has breached its contract.
US and Canada expect positive outcomes from tariff negotiations
Canadian Prime Minister Mark Carney and US President Donald Trump told reporters at the White House on Tuesday that they’ll be formulating a trade deal that works for both nations.
Leibowitz: When the shutdown should end
There is no doubt that the current government shutdown reflects the vast divisions between the extremes of American politics, society, and even geography. Almost all Americans agree that government is necessary, but voters disagree...
Price: The U.S. Steel shutdown that wasn’t and a call to stop ‘valuation cheating’
How can the U.S. government block U.S. Steel’s Granite City rolling mill closure without harming other American steelmakers? Reducing imports should be the first step. Foreign producers continue to aggressively target the U.S. market, especially now as they find themselves displaced by Chinese exports.
US steel industry applauds ITC final determination in coated trade case
Domestic mills praised the US International Trade Commission’s (ITC's) final determination that imports of corrosion-resistant (CORE) steel from 10 countries pose a threat to them.