CNR - CNR STOCK NEWS

Cornerstone Building Brands, Inc. (NYSE: CNR) has successfully sold its coil coatings business to BlueScope Steel Limited for $500 million. This all-cash sale, involving brands like Metal Coaters and Metal Prep, enhances Cornerstone's financial flexibility and focuses its portfolio for future growth in larger markets. The company aims to streamline operations and boost value creation. Rothschild & Co acted as the financial advisor for the transaction, which is expected to position Cornerstone for strategic advantages moving forward.

Cornerstone Building Brands (CNR) reported record first-quarter net sales of $1,567 million, a 23.7% increase year-over-year. The company's earnings reached $0.79 per diluted share, with adjusted net income at $0.66. Cash flow from operations improved to $190 million, and net debt leverage ratio decreased to 3.3x. The company announced the divestiture of its coil coatings business for $500 million. A proposed acquisition by CD&R will take the company private and is expected to close in 2022.

Cornerstone Building Brands, Inc. (NYSE: CNR) announces that Sandy East, VP of Customer Service, has received the 2022 STEP Ahead Award, highlighting the contributions of women in manufacturing. This recognition marks the third award for the company's leaders since 2020. East's career spans over three decades at Cornerstone, where she has developed a strong team and promotes opportunities for women. The award ceremony will take place on April 28, 2022, in Washington, D.C., celebrating 130 women who have made significant contributions to the manufacturing industry.

Cornerstone Building Brands (CNR) has appointed Rose Lee, President and CEO, as Vice Chair of the Manufacturing Institute’s STEP Women’s Initiative for 2022 and Chair for 2023. This initiative aims to close the gender gap in manufacturing by empowering and inspiring women through recognition and mentoring. Lee expressed commitment to Diversity, Equity, and Inclusion, emphasizing the need for role models to attract and retain women in the industry. Cornerstone is North America's largest exterior building products manufacturer, with over 21,700 employees and a diverse product portfolio.

Cornerstone Building Brands (CNR), the largest manufacturer of exterior building products in North America, is set to release its first-quarter 2022 financial results on May 3 after the market closes. The results will be accessible on the company’s investor relations website. With a workforce of over 21,000 employees, Cornerstone specializes in products including vinyl windows, siding, and metal roofing, catering to both residential and commercial markets. Corporate stewardship and ESG responsibility are core to the company's operations.

Cornerstone Building Brands (NYSE: CNR) has signed a definitive agreement to sell its coil coatings business to BlueScope Steel for $500 million. This transaction includes the transfer of seven manufacturing facilities and approximately 570 employees. The coil coatings business generated net sales of about $214.9 million in 2021. The deal will further strengthen the long-term supply relationship between the two companies. The transaction is expected to close in 2022, pending regulatory approvals.

Cornerstone Building Brands (NYSE: CNR) announced the sudden passing of Art Steinhafel, President of U.S. Windows and Doors, on April 3, 2022, at the age of 53. CEO Rose Lee expressed deep condolences, highlighting Steinhafel's significant impact on colleagues and customers alike. Cornerstone Building Brands is the largest manufacturer of exterior building products for residential and low-rise non-residential buildings in North America, with a diverse product portfolio and over 20,000 employees across its operations.

Cornerstone Building Brands (NYSE: CNR) has announced its acquisition by Clayton, Dubilier & Rice in an all-cash deal valued at approximately $5.8 billion, including debt. Shareholders will receive $24.65 per share, a 16% premium over the stock's closing price on March 4, 2022, and 75% premium over February 4, 2022. The transaction, approved by the company's board and a special committee, is expected to close in the second or third quarter of 2022, pending regulatory approvals.