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
Nippon respects HR dumping decision, expects lower rate in next review
Nippon Steel says it respects the US Department of Commerce’s findings in administrative reviews despite the agency recently assigning the Japanese steelmaker a higher dumping margin.
CRU: Trump tariffs could stimulate steel demand
Now that the dust has settled from the US election, as have the immediate reactions in the equity, bond, and commodity markets, this is a prime opportunity to look at how a second Trump presidency might affect the US steel market.
Rebar import duties to continue for 5 more years
Import duties on rebar from a handful of countries will continue to be collected for at least another five years.
Leibowitz: Trump 2.0 signals Cold War 2.0 trade and China policies
China is one of the elephants in the room as the transition to Trump 2.0 continues. While the people and policies are still being formulated, it’s possible to detect a strategy for the new Trump administration. I think there are two imperative issues that the new administration needs to balance. The Trump strategy will, I believe, follow the following points. First, trade is one of the issues that got President Trump elected in 2016 and 2024—it nearly got him elected in 2020, save for the pandemic. If President Trump had won in 2020, I might be writing chronicles about the end of his eight years in the White House now instead of projecting what the next Trump administration would accomplish or break. Oh, well—that’s life. Trade will necessarily be a key feature of relations with China for the next four years.
Commerce says Nippon dumped steel in US in 2022-23
Commerce determined a significant dumping margin for hot-rolled steel imports from Japan's Nippon Steel.