Steel manufacturer and recycler Commercial Metals Company (CMC) will acquire Tensar Corp., a global leader in geogrids, grids made from different polymers that are used to stabilize poor soils during construction sitework.
“I’m enthusiastic about the opportunity for Tensar to join with CMC for expanded reach in the civil infrastructure market,” Tensar CEO Mike Lawrence states. “Both companies have a rich history of innovation, service, and commitment to our customers’ success. Together we will be well-positioned to grow into key markets, leveraging forthcoming infrastructure spending as well as growing requirements for more sustainable solutions globally.”
Irving, Texas-based CMC runs seven electric arc furnace (EAF) mini-mills, two EAF micro-mills, a re-rolling mill, steel fabrication and processing plants, construction-related product warehouses, and metal recycling facilities in the U.S. and Poland. The Tensar acquisition will add facilities in the U.S., U.K., China, and Russia. Alpharetta, Ga.-based Tensar invented geogrids in the late 1970s for use in roads, railbeds, retaining walls, structural foundation support, and more.
“This compelling acquisition advances CMC’s strategy to expand our leadership in construction reinforcement, with value-added products that complement our existing offering,” explains Barbara Smith, CMC’s chair, president, and CEO. “Tensar will create a powerful platform for incremental growth into complementary engineered products that target CMC’s largest core market, construction, serving end-use markets and customer segments where we have strong and existing relationships.”
The boards of both companies have approved the deal and it is awaiting regulatory approval.
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