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Core Natural Resources (CNR) provides essential updates for stakeholders tracking this leading coal producer's market activities. This centralized hub aggregates all press releases and news related to CNR's mining operations, strategic partnerships, and industry developments.
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Bookmark this page to monitor CNR's navigation of coal price fluctuations, regulatory changes, and evolving demand in seaborne markets. Check regularly for objective updates about this NYSE-listed company's performance in the broader energy sector.
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.
Cornerstone Building Brands (CNR) reported strong financial results for Q2 2021, with net sales of $1,400.1 million, up 29.1% year-over-year. Pro forma net sales increased 28% to $1,406.3 million. The company noted a 13.4% rise in volume and price adjustments due to inflation. Adjusted net income was $84.5 million ($0.67 per share), marking an 11.2% increase from the previous year. The company plans to divest its Insulated Metal Panels and Roll-up Sheet Doors businesses for around $1.2 billion. CNR expects Q3 2021 net sales between $1,385 to $1,435 million.
Cornerstone Building Brands (NYSE: CNR), North America's largest manufacturer of exterior building products, is set to attend the Barclays Building & Building Products Virtual Conference. CFO Jeff Lee will engage in a fireside chat on August 10, 2021, at 12:40 p.m. EDT. The company's vast portfolio includes products like vinyl windows, siding, and metal roofing. With over 20,000 employees across North America, Cornerstone emphasizes corporate stewardship and ESG responsibility, ensuring a positive impact in its communities. For further details, visit www.cornerstonebuildingbrands.com.
Cornerstone Building Brands (NYSE: CNR) has announced an agreement to acquire Cascade Windows for $245 million. Cascade, a top manufacturer of energy-efficient vinyl windows and doors, serves the residential construction and remodeling markets. The acquisition aims to enhance Cornerstone's market presence on the West Coast and improve its tailored solutions offerings. Cascade reported approximately $160 million in sales over the past twelve months. The deal is expected to close in Q3 2021, pending regulatory approval, and will be funded using cash on hand.
Cornerstone Building Brands (CNR) has signed an agreement to sell its Roll-up Sheet Door business, under the DBCI brand, to Janus International Group (JBI) for $168 million. The transaction, expected to close in Q3 2021, involves three manufacturing facilities and a sales office, transferring around 240 employees to Janus. The DBCI business generated approximately $85 million in sales over the past year, with about $65 million in net sales and $14 million in Adjusted EBITDA that would be excluded from CNR's results if the deal closed earlier. Proceeds will enhance financial flexibility and support growth initiatives.
