CNR - CNR STOCK NEWS

Cornerstone Building Brands (NYSE: CNR), the leading manufacturer of exterior building products in North America, will participate in the RBC Capital Markets Global Industrials Virtual Conference. Key executives, including James S. Metcalf, Rose Lee, and Jeff Lee, will engage in a virtual fireside chat on September 10, 2021, at 10:00 a.m. EDT. The event can be accessed via the provided link, with a video webcast and replay available on the company's investor relations page.

EnPro Industries, Inc. (NYSE: NPO) has appointed Judith A. Reinsdorf to its Board of Directors. Reinsdorf previously served as Executive Vice President and General Counsel at Johnson Controls (NYSE: JCI) until her retirement in 2017. She has extensive governance experience, having chaired the Governance Committee at Alexion Pharmaceuticals and Dun & Bradstreet. David Hauser, Chairman of EnPro, expressed confidence that her leadership and strategic expertise will enhance the company's optimization and growth strategy.

Cornerstone Building Brands (NYSE: CNR) has successfully acquired Cascade Windows for approximately $245 million, adjusting for customary costs. Cascade specializes in energy-efficient vinyl windows and doors and operates across the West and Pacific Northwest with 800 employees at nine locations. This acquisition bolsters Cornerstone's manufacturing capabilities in the growing west coast market and enhances its product offerings for residential construction and remodeling. The deal reflects Cornerstone's strategy to expand its portfolio and strengthen its market position.

Cornerstone Building Brands, Inc. (NYSE: CNR) has appointed Judith Reinsdorf as an independent member of its board of directors, effective August 19, 2021. Reinsdorf brings substantial executive experience, previously serving as Executive Vice President and General Counsel at Johnson Controls International. Her expertise includes M&A, strategy, and human capital matters, which are expected to enhance the board's capabilities. She will be involved in the compensation committee and the affiliate transactions committee, leveraging her extensive background in guiding companies through complex landscapes.

Janus International Group (NYSE: JBI) has completed its acquisition of DBCI, a manufacturer of steel roll-up doors under Cornerstone Building Brands (NYSE: CNR). This acquisition aims to enhance Janus's product offerings and customer service capacity. Janus expects to benefit from DBCI's contractor and distributor relationships, facilitating growth in its Nokē® Smart Entry technology. CEO Ramey Jackson highlighted anticipated synergies that will lead to cost savings and an improved service platform for clients.

Cornerstone Building Brands (CNR) has completed the sale of its Roll-up Sheet Door business to Janus International Group (JBI) for $168 million. This divestiture aims to refine CNR's portfolio, allowing for enhanced growth in larger markets. The company plans to reinvest the net proceeds into strategic initiatives focused on profitable growth and achieving a net debt leverage target of 2.0x to 2.5x. CNR is the largest manufacturer of exterior building products in North America, with a comprehensive range of products and a significant presence across various markets.

Cornerstone Building Brands (CNR) reported strong customer demand and a solid foundation for growth at the Barclays Building & Building Products Virtual Conference. CFO Jeff Lee indicated record earnings in Q2 2021 and highlighted effective strategies to manage inflationary pressures. The company aims to achieve a net debt leverage target of 2.0x to 2.5x. Cornerstone maintains its leadership position in exterior building products across North America, serving various markets with a broad product portfolio.

Cornerstone Building Brands (CNR) has finalized the sale of its Insulated Metal Panels business to Nucor Insulated Panel Group for $1 billion. The cash transaction, subject to customary adjustments, is expected to enhance the company's financial flexibility. Proceeds will be utilized to reduce secured credit facilities, invest in organic growth, and pursue strategic acquisitions. This move aligns with Cornerstone’s strategy to simplify its portfolio and focus on deeper markets, which the company believes will drive growth and increase shareholder value.

Cornerstone Building Brands (NYSE: CNR) announced the retirement of CEO James S. Metcalf, effective September 6, 2021. He will continue as executive chairman until March 31, 2022. Rose Lee, formerly of DuPont and Saint-Gobain, has been appointed as the new president and CEO. The board expressed confidence in Lee's leadership skills and her ability to drive growth. Metcalf acknowledged the successful transformation of the company under his leadership, particularly during the pandemic. Lee aims to expand Cornerstone's impact in the building products market with a focus on innovation.