CMC - Commercial Metals acquires Tendon Systems

2023-03-20 07:22:23 ET

• Commercial Metals ( NYSE: CMC ) acquired Tendon Systems, provider of post-tensioning, barrier cable, and concrete restoration solutions to the Southeastern U.S.
• Tendon's products and services are used in a variety of construction types while its primary offering, post-tension cable, is used in conjunction with rebar in most applications, providing meaningful commercial synergy opportunities to CMC.
• In CY22, Tendon had revenues of ~$60M.
• "Tendon adds valuable expertise, innovative products, and a trusted reputation to the CMC portfolio," Chairman, President & CEO Barbara R. Smith commented.

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