Steel Mills
Nucor Completes $1 Billion Deal for Insulated Metal Panels Business
Written by Tim Triplett
August 10, 2021
Nucor has completed its previously announced acquisition of Cornerstone Building Brands’ insulated metal panels (IMP) business. The $1 billion deal expands the steelmaker’s reach into the construction market.
The Nucor management team is in place and the CENTRIA and Metl-Span brands acquired from Cornerstone Building Brands are now a part of the newly created Insulated Panel Group, which also includes Nucor’s existing IMP business, TrueCore.
“We are excited to officially welcome our CENTRIA and Metl-Span teammates as part of the Nucor team,” said Jeff Carmean, president of Nucor Insulated Panel Group. “Adding these two brands will allow us to provide our customers with a full range of products to service high-end architectural applications, as well as the quickly expanding cold storage and warehousing markets.”
Cornerstone Building Brands, Inc. plans to use the proceeds from the transaction to pay down a portion of its secured credit facilities and to invest in organic growth and strategic acquisitions. Based in Cary, N.C., Cornerstone Building Brands claims to be the largest manufacturer of exterior building products for residential and low-rise non-residential buildings in North America. Nucor is North America’s largest steel manufacturer.
Tim Triplett
Read more from Tim TriplettLatest in Steel Mills
Ternium pushes forward with growth projects despite slump in earnings and Mexican market
Ternium S.A. Fourth quarter ended Dec.31 2024 2023 Change Net sales $3,876 $4,931 -21.4% Net income (loss) $333 $554 -39.9% Per diluted share $1.43 $2.11 -32.2% Full year ended Dec.31 Net sales $17,649 $17,610 0.2% Net income (loss) $174 $986 -82.4% Per diluted share $(0.27) $3.44 -108% (in millions of dollars except per share) While […]
Kestenbaum, Ancora state their case in proxy fight for U.S. Steel
Ancora Holdings is moving forward with its proxy fight to oust U.S. Steel’s leadership and install a new board of directors and Alan Kestenbaum as CEO.
BlueScope shelves midstream facility but still upbeat on US
BlueScope Steel is pulling back on its expansion plans in the US for now but remains optimistic about the North American market.
Japanese PM cites ‘unjust political interference’ in Nippon/USS deal: Report
Japan’s Prime Minister Shigeru Ishiba said on Monday that former President Joe Biden’s decision to block Nippon Steel’s buy of U.S. Steel was “unjust political interference,” according to a report in Reuters. This comes after another Reuters report on Friday saying that President Trump would not object to Nippon taking a minority stake in the […]
Trump says Nippon will ‘invest heavily’ in USS rather than buy it
Nippon Steel has agreed to “invest heavily in U.S. Steel as opposed to own it,” President Donald Trump said on Friday during a press conference with Japanese Prime Minister Shigeru Ishiba. U.S. Steel is “a very important company” and was once “the greatest company in the world”. Of potential foreign ownership of the Pittsburgh-based steelmaker, Trump said, “the concept, psychologically, not good."