Nucor Corp. signed a definitive purchase agreement to acquire Cornerstone Building Brands’ insulated metal panels business for approximately $900 million. With this acquisition, Nucor will be purchasing two legacy brands, Centria and Metl-Span, that provide a range of products to service cold-storage applications.
Insulated metal panels products are wall- and roof-panel solutions comprised of an energy-efficient foam core sandwiched between two layers of steel or aluminum. The insulated metal panel business acquisition includes seven North American manufacturing facilities.
According to Nucor, the demand for the insulated panel products is being driven by evolving consumer preferences regarding e-commerce, grocery delivery and the expansion of data centers, which all require temperature-controlled climates.