Commercial Metals Company Announced Acquisition of Tensar Corporation

SEATTLE (Scrap Monster): Commercial Metals Company (CMC) announced that it has entered into a definitive agreement with Tensar Corporation to acquire the assets of the latter. The deal is considered part of CMC’s strategy to expand its leadership in construction solutions. The transaction will make Tensar’s 650 worldwide employees a part of CMC family.

The acquisition will advance CMC’s strategy to expand its leadership in construction reinforcement. The Tensar’s value-added products will complement CMC’s existing product offering. Tensar is expected to create a powerful platform of incremental growth into complementary engineered products, said Barbara R. Smith, Chairman, President and CEO of CMC.

Mike Lawrence, CEO, Tensar Corporation said that he is enthusiastic about the opportunity for Tensar to join with CMC, which will expand its reach in the civil infrastructure market. The deal provides an exciting change for employees and customers of both companies, he added.

The closing of the transaction is subject to regulatory review and customary closing conditions. It has already received approval from the board of directors of both the companies.