Steel Mills

Nucor Buying Insulated Metal Panels Business for $1 Billion
Written by Sandy Williams
June 8, 2021
Nucor will purchase Cornerstone Building Brand’s insulated metal panels (IMP) business for a cash price of $1 billion dollars. The purchase is expected to close later this year, pending regulatory approval.
The transaction includes seven manufacturing facilities located throughout North America that will complement Nucor Buildings Group and the company’s existing IMP business, TrueCore, the steelmaker said.
IMP products are wall and roof panel solutions comprised of an energy efficient foam core sandwiched between two layers of steel or aluminum and are available in a variety of widths, thicknesses and exterior finishes. The acquisition includes two valued legacy brands, CENTRIA and Metl-Span, which provide products serving high-end architectural applications as well as utilitarian cold storage and warehouse applications, the company said.
Nucor President and CEO Leon Topalian called the acquisition an “excellent fit” for Nucor’s long-term business strategy.
“Today’s announcement accelerates our vision to broaden value-added solutions that Nucor provides to our targeted end markets. Additionally, it enhances our strong financial position with attractive free cash flow conversion rates and accretive EBITDA margins,” said Topalian. “We are excited about this opportunity to acquire a historical leader and innovator in the quickly growing IMP product category serving the non-residential market.”

Sandy Williams
Read more from Sandy WilliamsLatest in Steel Mills

Metallus, USW agree to tentative four-year labor deal
Metallus and the United Steelworkers (USW) have agreed to a tentative four-year labor contract.

ArcelorMittal Dofasco resumes cokemaking after emergency maintenance
The Canadian steelmaker reported on Sept. 30 that “urgent maintenance” was needed in its coke plant off-gas systems. The work required coke oven gas from the No. 2 coke plant to be flared for most of that week.

AISI: Raw steel production ticks back down
US raw steel output declined last week after increasing the week prior, according to the latest data from the American Iron and Steel Institute (AISI). Output has see-sawed from week to week since mid-August. Still, it has remained historically strong over the past four months and has held near multi-year highs since June. Domestic mills […]

Gerdau reshapes North American footprint as tariffs squeeze long steel imports
Gerdau is repositioning its North American business to capitalize on a sharp shift in steel trade flows driven by elevated tariffs across the US, Canada, and Mexico.

CRU: Interest in AHMSA is growing
Representatives of at least six companies interested in acquiring AHMSA have reportedly begun to carry out physical inspections of the insolvent company’s assets.