Nucor Corporation Acquires Cornerstone Building Brands' Insulated Metal Panel Business
Nucor Corporation announced that it has completed the acquisition of Cornerstone Building Brands' insulated metal panels (IMP) business for approximately $1 billion, subject to customary adjustments.
Following the acquisition, the CENTRIA and Metl-Span brands are now a part of the newly created Insulated Panel Group, which also includes the company's existing IMP brand, TrueCore. Jeff Carmean, vice president of Nucor Corporation, has been appointed as president of Nucor Insulated Panel Group.
"We are excited to officially welcome our CENTRIA and Metl-Span teammates as part of the Nucor team," said Carmean. "Adding these two brands to our Insulated Panel Group 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."
Nucor and its affiliates are manufacturers of steel and steel products, with operating facilities in the United States, Canada and Mexico. In an email, Nucor noted that Preston Bowen is leaving the Cornerstone Insulated Metal Panel business.
"We are grateful for the energy and passion Preston brought to the organization and thank him for his contributions," the email stated.
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