NEW YORK, April 16 /PRNewswire/ -- Quanex Building Products Corp. will replace Quanex Corp. in the S&P SmallCap 600 after the close of trading on Wednesday, April 23. Quanex Building Products is being spun off by Quanex Corp. and will be immediately followed by Quanex Corp. being acquired by a subsidiary of S&P Global 1200 constituent Gerdau S.A. Both transactions are expected to be completed on or about that date, pending final approvals.
Standard & Poor's will monitor these transactions, and post any relevant updates on its website: http://www.standardandpoors.com/.
Quanex Building Products manufactures engineered building components. Headquartered in Houston, TX, the company will be added to the S&P SmallCap 600 GICS (Global Industry Classification Standard) Building Products Sub-Industry index.
Following is a summary of the change: S&P SMALLCAP 600 INDEX - April 23, 2008 COMPANY GICS ECONOMIC SECTOR GICS SUB-INDUSTRY ADDED Quanex Building Industrials Building Products Products DELETED Quanex Corp. Materials Steel
Additions to and deletions from an S&P equity index do not in any way reflect an opinion on the investment merits of the companies concerned.
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