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
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