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Steel News August 10, 2021 01:35:44 PM

Nucor Concluded Acquisition of Insulated Metal Panels Business

Paul Ploumis
ScrapMonster Author
The cash purchase price of the deal was around $1 billion.

Nucor Concluded Acquisition of Insulated Metal Panels Business

SEATTLE (Scrap Monster): Charlotte, N.C. - headquartered Nucor Corporation announced that it has successfully completed acquisition of the insulated metal panels (IMP) business of Cornerstone Building Brands, subject to customary adjustments. The cash purchase price of the deal was around $1 billion.

According to company press release, the CENTRIA and Metl-Span brands acquired from Cornerstone Building Brands have been integrated to the newly created Insulated Panel Group, which also comprises TrueCore- Nucor’s existing IMP business. The transaction has added seven manufacturing facilities of Cornerstone spread across North America to its fold, Nucor said.

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Jeff Carmean, President of Nucor Insulated Panel Group noted that the company is excited to officially welcome CENTRIA and Metl-Span teammates as part of the Nucor team. The addition of the brands will provide its customers with a full range of products to serve high-end architectural applications and quickly expanding cold storage and warehousing markets, he added.

The acquisition is considered as an excellent fit with Nucor’s long term growth strategy. It must be noted that Cornerstone has been a leader and innovator in the growing IMP product category.

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