Nucor to acquire Cornerstone’s insulated metal panels business
Cornerstone's IMP business has seven manufacturing facilities located throughout North America.
Exterior building products manufacturer Cornerstone Building Brands Inc. is selling its insulated metal panels (IMPs) business for walls and roofs to Charlotte, N.C.-based Nucor Insulated Panel Group Inc. in a US$1 billion cash deal.
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 IMP business Nucor is acquiring from Cornerstone has seven manufacturing facilities located throughout North America. “These locations complement the footprint of Nucor Buildings Group, as well as the company’s existing IMP business, TrueCore,” officials with Nucor said in a June 7 news release.
With the acquisition, Nucor will be purchasing two legacy brands, CENTRIA and Metl-Span.
The transaction is expected to close later this year, pending regulatory approvals.
Cornerstone was formed in 2019, when NCI Building Systems Inc. and Ply Gem Parent LLC merged.