NCI Building Systems, Ply Gem Merger Results in Name Change
CARY, N.C. — NCI Building Systems Inc. — which recently merged with Ply Gem Building Products — said it is changing its name and will trade on the New York Stock Exchange under a new symbol starting in May.
The new name is Cornerstone Building Brands. The company’s new ticker symbol “CNR” will be effective May 24.
The merger was announced in early 2018 and completed last November. At the time of the announcement, the companies said that combined revenue for 2017 would have been $2.4 billion.
Cornerstone said in a release that the new name represents a “unified commitment to business transformation that will drive future growth and effectively serve customers and communities across North America."
"We are dedicated to our customers and well positioned to lead the residential and commercial markets as Cornerstone Building Brands, and to make positive contributions to the places where people live, work and play," said James S. Metcalf, chairman of the board and CEO. "Through continued operational excellence and innovation, Cornerstone Building Brands is creating industry solutions that will become the cornerstone of countless communities. Our all-encompassing transformation will drive sales, efficiencies, customer satisfaction and enhance employee and community support."
Offering a comprehensive product portfolio that will continue to go to market through their existing brand names, Cornerstone Building Brands said it is the trusted leader in windows, vinyl siding, insulated metal panels, metal roofing and wall systems and metal accessories, serving as a one-stop shop for customers.
With its manufacturing facilities strategically located across North America, Cornerstone Building Brands brings a commitment to advanced manufacturing, innovation and research and development, the company said in a release.
"The combined strength and balance of our residential and commercial sectors uniquely positions us to lead the market," adds Metcalf. "We are dedicated to delivering an unmatched portfolio of products and look forward to the positive impact Cornerstone Building Brands will have not only on our customers but also in the fabric of the communities we call home."
The changes to the company's name and ticker symbol are expected to be effective following shareholder approval at the Company's Annual Meeting of Shareholders being held on May 23.
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