Cary, N.C.-based Cornerstone Building Brands Inc. is investing $25 million and hiring 38 people to create a production facility about an hour away in Rocky Mount, N.C.
The manufacturer of vinyl and metal exterior building products plans to reopen a manufacturing plant in Rocky Mount to produce an "innovative new siding product," according to news release from the North Carolina Department of Commerce.
Formed by the 2018 merger of NCI Building Systems Inc. and Ply Gem Parent LLC, Cornerstone produces vinyl siding, vinyl windows, insulated metal panels, metal roofing and wall systems and metal accessories with more than 20,000 employees in North America.
The company serves residential and commercial customers in the new construction and repair and remodel markets. With $2.36 billion in sales last year, Cornerstone is the second largest pipe, profile and tubing extruder in North America, according to Plastics News ranking data.
The state commerce department says it led a team of partners to support Cornerstone's decision to expand in the state and create jobs in maintenance, management and operations. The total payroll impact could be more than $2.1 million per year, with average annual salary paying significantly higher than the Nash County annual salary of $40,806, the release says.
"I know firsthand about the dedicated workers and great quality of life in Nash County, and Cornerstone Building Brands agrees," Gov. Roy Cooper said in the release. "This company knows that strong and steady leadership through this pandemic, combined with a well-trained manufacturing workforce in eastern North Carolina is a recipe for success."
Cornerstone received a performance-based grant of $100,000 from the One North Carolina Fund, which was set up to attract investment and jobs, to help with the expansion. The grant must be matched by the local government and is contingent on Cornerstone meeting job and investment targets.
NCI bought Ply Gem in an all-stock deal in July 2018 worth $1.2 billion based on the market closing value. NCI owns 53 percent of the company while Ply Gem shareholders own 47 percent.
In May 2019, NCI changed its name to Cornerstone Building Brands and began trading under the ticker symbol CNR on the New York Stock Exchange.