April 11, 2019
NCI Building Systems and Ply Gem Building Products Create Cornerstone Building Brands Following Merger
CARY, NC, April 11, 2019 – NCI Building Systems, Inc. (NYSE: NCS) (“NCI” or the “Company”), which recently merged with Ply Gem Building Products, announces it will officially operate as Cornerstone Building Brands and trade under the ticker symbol “CNR” on the New York Stock Exchange effective May 24, 2019. The new name represents the Company’s unified commitment to business transformation that will drive future growth and effectively serve customers and communities across North America. The term Cornerstone, which is the foundation upon which something greater is built, refers to and emphasizes the essential role the Company’s products and solutions play in residential and commercial projects, from churches and schools to hospitals, homes, government buildings and more. Through a relentless commitment to provide exterior building solutions, Cornerstone Building Brands will enable the communities we serve to grow and thrive.
“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 Chief Executive Officer. “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 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 is also dedicated to implementing and executing several community-focused programs including the Home for Good project, a campaign that will continue to serve as a key corporate initiative and has helped build and remodel more than 500 homes in 90 communities across the U.S. since 2016. Furthermore, the Company offers help to its workforce through an employee assistance program that supports those who are facing financial hardship following natural disasters or unforeseen personal hardship.
“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, 2019.
About Cornerstone Building Brands
Cornerstone Building Brands is the largest manufacturer of exterior building products in North America. Headquartered in Cary, North Carolina, the organization serves residential and commercial customers across new construction and repair & remodel market. As the #1 manufacturer of windows, vinyl siding, insulated metal panels, metal roofing and wall systems and metal accessories, Cornerstone Building Brands combines a comprehensive portfolio of products with an expansive national footprint that includes more than 21,000 employees at manufacturing, distribution and office locations throughout North America.
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Certain statements and information in this release may constitute forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. The words “believe,” “anticipate,” “plan,” “intend,” “foresee,” “guidance,” “potential,” “expect,” “should,” “will” “continue,” “could,” “estimate,” “forecast,” “goal,” “may,” “objective,” “predict,” “projection,” or similar expressions are intended to identify forward-looking statements in this release.
Such forward-looking statements reflect the views of management at the time such statements are made and are subject to a number of risks, uncertainties, estimates, and assumptions that may cause actual results to differ materially from current expectations, including but not limited to the results of the Company’s shareholder vote on May 23, 2019, the ability to integrate the acquired operations and implement the business plan of the combined company and achieve anticipated benefits and savings. Additionally, factors listed under “Risk Factors” set forth in the Company’s Annual Report on Form 10-K for the fiscal year ended October 28, 2018, and the other risks and uncertainties described in documents we file from time to time with the SEC, identify other important factors, though not necessarily all such factors, that could cause future outcomes to differ materially from those set forth in the forward-looking statements contained in this release. The Company expressly disclaims any obligation to release publicly any updates or revisions to these forward-looking statements, whether as a result of new information, future events, or otherwise.