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
Fitch warns more tariffs will pressure global commodity markets
“New commodity-specific tariffs, mainly on steel and aluminum products, could widen price differentials and divert trade flows,” the credit agency forewarned.
Commerce increases import duties on Korean galv, plate
The Commerce Department is raising the import duties on imports of corrosion-resistant sheet and cut-to-length plate from Korea.
Leibowitz on trade: Why is protectionism so popular?
The world has had a few shocks recently. The CEO of a major health insurance company was gunned down in Manhattan. The 50-year Assad dynasty in Syria was pushed out less than two weeks after rebels started an offensive. And President-elect Trump is promising tariffs on everything a month before he takes office. But one shock has been taking place for a lot longer than the last few weeks. The 70-year consensus on trade hasn’t just been challenged. It’s been repudiated.
Ternium chief say Mexico tariffs ‘irrational’
Vedoya said the proposed tariffs are "an irrational measure that would harm both their own industry and ours."
Price on Trade: Trump tariffs are no negotiating tool – and could come at lightning speed
We focused on trade actions the second Trump administration might take in a prior column. Since then, we have learned more about the individuals who will be leading these efforts. Recent nominations reinforce the president-elect’s statements that tariffs will feature prominently in the second administration and that trade actions will be unveiled at lightning speed.