BlueScope Steel Ltd Acquisition of US Coil Coatings Business Transcript
Good morning, and welcome, everyone, joining us on the call today. My name is Mark Vassella, and I'm the Managing Director and CEO of BlueScope. I'm joining you this morning from the U.K., where I'm attending a World Steel Board meeting. Tania Archibald, our CFO, is online from Melbourne. Today, we're very pleased to announce that BlueScope has acquired the Cornerstone Building Brands U.S. metal coil painting business, Coil Coatings. In terms of today's call, I'll spend 15 minutes or so taking you through the business and the value it brings to BlueScope's U.S. portfolio and then we'll be happy to answer any of your questions.
Firstly, to touch on the details of the acquisition. Today, we signed a binding agreement to acquire the Coil Coatings business from Cornerstone Building Brands for USD 500 million. Coil Coatings is a great fit for BlueScope. It's the second largest metal coil painter in the U.S. with around 900,000 metric tonnes of capacity across 7 sites. This is a significant step forward in our growth plans
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