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
Canada moves to curb steel imports with TRQs
Canada has implemented tariff-rate quotas (TRQs) on steel imports to help stabilize its domestic market.
Commerce launches probe into unfairly traded rebar imports
Here are the details and a case timeline for the rebar trade case recently initiated by the Commerce Department.
Leibowitz on Trade: Who is winning the tariff debate?
Most economists will tell you that universal tariffs will result in inflation and reduce demand, causing a recession or worse. (After all, this is what happened in the 1930s). It is a rare product that is so essential that demand will not go down if prices go up.
Canadian steel industry fears thousands of job losses from US tariffs
The Canadian steel industry is bracing for thousands of job losses because of US tariffs, the Canadian Steel Producers Association says.
US, Mexico mull tariff-rate quota system: Report
Could the US and Mexico end up with a tariff-rate quota system?