Cornerstone To Dives Metal Panels Business

Cornerstone Building Brands, Inc. plans to sell its Insulated Metal Panels (IMP) business to Nucor Insulated Panel Group Inc. and certain of its subsidiaries. The transaction includes products sold under the Metl-Span and CENTRIA brands and is expected to close in the second-half of 2021. “We believe this transaction creates immediate, substantial value for our shareholders and highlights the immense value that exists within the Cornerstone Building Brands portfolio,” says James S. Metcalf, chairman and chief executive officer. “We have cultivated our IMP business into a market leader with strong assets. The IMP business is a better strategic fit with Nucor, which is well-positioned to take the business even further. We will continue to focus on investing in our core growth markets and driving value through our primary selling channels.” The IMP business is a manufacturer of insulated metal panels, a lightweight cladding solution servicing all sub-sectors within the non-residential end markets throughout North America. Cornerstone will sell seven manufacturing facilities, three offices, and a product innovation centre, all located in North America.