Cornerstone Building Brands Announces Divestiture of its Coil Coatings Business for $500 Million, Leverages Long-Term Supply Agreements for Growth

Cornerstone Making Brands Announces Divestiture of its Coil Coatings Organization for $500 Million, Leverages Lengthy-Term Offer Agreements for Advancement

Cornerstone Constructing Manufacturers, Inc. (NYSE: CNR) (“Cornerstone Building Brands” or the “Company”), the most significant maker of exterior making solutions in North America, announced now that it has entered into a definitive arrangement to promote its coil coatings enterprise to BlueScope Steel Confined (“BlueScope”) in an all-hard cash transaction for $500 million, subject to customary adjustments. The transaction involves merchandise sold underneath the Metallic Coaters and Metallic Prep brands.

In relationship with the transaction, BlueScope and the Corporation will enter into lengthy-phrase provide agreements to protected ongoing provide of light-weight gauge coil coating and painted incredibly hot roll steel at favorable support degrees, reaffirming Cornerstone Constructing Makes as a favored methods supplier for metal buildings and roofing.

“Our key benefit development levers are integral to advancing our technique to successful expansion,” explained Rose Lee, President and Chief Executive Officer. “As section of our expansive innovation motor lever, we appear to spouse with businesses with complementary capabilities generating larger possibilities. We are thrilled to expand our relationship with BlueScope, who has been a shopper and provider of ours for lots of years and is very well-positioned to just take the coil coatings business enterprise even even more. We will continue on to concentrate on investing in our main growth markets and driving worth through our major advertising channels.”

Less than the phrases of the agreement, the Organization will provide 7 manufacturing amenities and transfer roughly 570 workers from Cornerstone Setting up Makes to BlueScope.

Monetary outcomes for the coil coatings company are described in the Company’s Professional segment. For the twelve months ended December 31, 2021, the coil coatings company experienced net gross sales of approximately $214.9 million.

The transaction is expected to shut in 2022, matter to customary closing situations, such as regulatory approvals.

Rothschild & Co served as the exceptional fiscal advisor, Sullivan & Cromwell LLP served as lawful counsel, and Alvarez & Marsal Transaction Advisory Group, LLC served as accounting advisor to Cornerstone Developing Brands for this transaction.

About Cornerstone Constructing Brands

Cornerstone Constructing Models is the major maker of exterior developing goods for residential and small-rise non-household properties in North The united states. Headquartered in Cary, N.C., we provide residential and commercial consumers across the new construction and fix and transform markets. Our sector-major portfolio of items spans vinyl home windows, vinyl siding, stone veneer, metal roofing, steel wall devices, and steel add-ons. Cornerstone Setting up Brands’ broad, multichannel distribution system and expansive national footprint includes more than 20,000 personnel at production, distribution and business office places during North The usa. Company stewardship and environmental, social and governance (ESG) accountability are deeply embedded in our culture, and we are dedicated to contributing positively to the communities wherever we live, get the job done and engage in. For additional information and facts, visit us at

Forward-Looking Statements

Particular statements and details in this presentation could constitute forward-looking statements in the that means of the Private Securities Litigation Reform Act of 1995. Words these types of as “believe,” “anticipate,” “guidance,” “plan,” “potential,” “expect,” “should,” “will,” “forecast,” “target” and very similar expressions are ahead-on the lookout statements inside of the which means of the “harmless harbor” provisions of the Non-public Securities Litigation Reform Act of 1995. These forward-looking statements reflect our present-day expectations, assumptions and/or beliefs relating to future situations. As a consequence, these ahead-on the lookout statements count on a variety of assumptions, forecasts, and estimates and, thus, these forward-looking statements are issue to a variety of hazards and uncertainties that may possibly bring about the Company’s precise effectiveness to differ materially from that projected in these kinds of statements. Between the factors that could bring about actual results to vary materially involve, but are not confined to: statements about our skill to fulfill the closing disorders of the transaction, like regulatory approvals our potential to consummate the transaction on the expected timing, if at all and other dangers and uncertainties. In addition to these aspects, we really encourage you to overview the “Risk Factors” set forth in the Company’s Once-a-year Report on Variety 10-K for the fiscal year finished December 31, 2021 and other filings with the SEC, which establish important elements, while not necessarily all these kinds of components, that could cause long term outcomes to vary materially from people set forth in the forward-looking statements established forth in this doc. The Corporation expressly disclaims any obligation to update these forward-seeking statements, irrespective of whether as a outcome of new info, upcoming situations, or or else.

Trader Relations

Tina Beskid

Vice President, Finance and Investor Relations


[email protected]

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