Gypsum industry news
Ed Bosowski appointed to chairman of the board of directors of Continental Building Products
01 April 2016US: Continental Building Products has elected Ed Bosowski to serve as chairman of the board of directors effective from 18 March 2016. He replaces Brad Boggess. Bosowski has been a member of the board of directors of the company since February 2014, and has over 30 years of experience in the gypsum wallboard industry.
The company also announced that Brad Boggess, Kyle Volluz and Grant Wilbeck resigned from the board of directors on 18 March 2016 following the sale by an affiliate of Lone Star Funds of all remaining shares of stock it held in the company. The three departing board members were affiliated to Lone Star Funds. The board of directors of Continental Building Products currently consists of five independent members and the company's president and CEO.
Headwaters Resources to acquire 100% of the membership interests of Synthetic Materials
04 March 2016US: Headwaters Resources has announced it has entered into a definitive agreement to purchase 100% of the membership interests of Synthetic Materials based in Louisville, Kentucky. The acquisition, which is subject to the satisfaction of certain closing conditions, is expected to close in Headwaters current fiscal year. It is intended to complement the coal combustion product management operations of Headwaters.
Synthetic Materials handles synthetic gypsum processing and management. It has 21 years of experience providing services to the flue gas desulfurisation industry, including the design and construction of gypsum dewatering systems, gypsum marketing, landfill and pond management. At present it provides operations and maintenance services at 10 different utility sites and manages over 4Mt/yr of bulk synthetic gypsum, generating approximately US$25m in annual revenue. The expected purchase price will range between US$38 – 45m, depending upon certain conditions.
Continental Building Products sales drop slightly in 2015
25 February 2016US: Continental Building Products sales fell slightly to US$422m in 2015 from US$425m in 2014. Despite this its net income rose by 5% to US$16.7m from US$15.9m. Wallboard volumes sales rose by 0.9% to 204Mm2 from 203Mm2.
Gypsum revenue grows at Superior Plus in fourth quarter of 2015
19 February 2016Canada: Gypsum revenues grew at Superior Plus in the fourth quarter of 2015. Revenue for its Construction Products Distribution division grew by 11% year-on-year to US$244m from US$220m in the previous period in 2014. It attributed the growth to improved US sales volumes as a result of on-going improvements in the US residential construction sector, an increase in average selling prices and currency effects. Canadian revenues fell slightly year-on-year for the quarter.
Overall Superior Plus reported an increase in its gross profit of 11% year-on-year to US$241m for the fourth quarter from US$248m in the previous year. However, its revenue fell by 15% to US$814m from US$957m. The company operates a diverse portfolio of businesses in construction products distribution, propane distribution, speciality chemical supplies and energy services.
USG gypsum profit grows 65% in 2015
08 February 2016US: USG Corporation has grown its gypsum business operating profit by 65% year-on-year to US$316m in 2015 from US$192m in 2014. The company attributed the results to price rises.
"We finished 2015 on a strong note by achieving impressive margin expansion in our Gypsum and Ceilings businesses. Improved pricing in both businesses, coupled with our cost discipline, drove this increased performance," said James S Metcalf, Chairman, President and CEO.
Net sales for its gypsum business rose by 5% year-on-year to US$2bn from US$1.9bn. Notably, sales dropped by 4% to US$187m in its Mexico and Latin America region although profits rose in the saUSHme period.
As a whole, the company reported sales of US$3.78bn in 2015, a slight rise from 2014. Operating profit more than doubled to US$381m from US$162m. Its USG Boral business reported that its net sales rose by 7.6% to US$1bn. Its operating profit rose by 30.5% to US$125m.
Gypsum Management and Supply acquires Robert N Karpp Company
05 February 2016US: Gypsum Management and Supply (GMS) has acquired Robert N Karpp Company, a drywall supplier based in Boston, Massachusetts. The purchase gives GMS, a North American distributor of gypsum wallboard and suspending ceiling systems, entry into the New England market.
"This addition to our business is a natural fit for GMS as we continue to expand our geographic footprint, while providing our resources as a national brand to help support new and existing local yards," said Mike Anderson, the GMS VP of Operations for the Northeast region.
Transnational Group Announces Hiring of Chief Operating Officer
29 January 2016US: Transnational Group has appointed Israel Gamliel as the company's Chief Operating Officer (COO). The firm is a mineral and natural resource exploration company focused on acquiring and mining mineral-rich assets, including high-grade gypsum, in the Southwestern US.
"Transnational Group is very pleased to welcome Israel Gamliel as our new COO. He has demonstrated an ability to lead companies through periods of significant revenue growth in a short time frame through the optimum management of people, products, raw materials and financial resources," said the Company's CEO, Philip Dutoit.
Gamliel has several years of experience serving as the CEO, president and owner of multiple companies in diverse markets including construction, real estate and the garment industry.
Steve Rowley to retire as president and CEO from Eagle Materials
28 January 2016US: Steve Rowley will retire as president and CEO of Eagle Materials on 31 March 2016. Dave Powers, Executive Vice President for Gypsum Wallboard at Eagle since 2005, will succeed Rowley as President and CEO. He will also be appointed to the Board of Directors.
"Steve has positioned Eagle for an exciting future. He has led the doubling of the scale of our cement business and has guided the growth of our gypsum wallboard business in achieving its nation-wide scope. He also has successfully led the company through the longest and most challenging construction market down-cycle in US history," said Larry Hirsch, Chairman of the Board. Health reasons were cited for Rowley's retirement.
Dave Powers, aged 65, holds over 35 years of experience in the building materials industry. He joined Eagle Materials (formerly Centex Construction Products) in 2002 as Executive Vice President, Sales and Marketing. In January 2005, he was promoted to his role as Eagle's Executive Vice President for Gypsum (and President, American Gypsum Company LLC).
CertainTeed rolls out a stronger wallboard
12 January 2016US: CertainTeed has launched its new Habito wallboard, which it says is the strongest and hardest 1/2-inch (12.5mm) wallboard on the market.
Dave Engelhardt, President of CertainTeed Gypsum, said that the product helps eliminate the frustration homeowners have when hanging heavy objects as Habito can hold heavy objects without involving anchors or wall studs.
"Habito continues our emphasis on providing innovative products that offer practical solutions to builders and homeowners," said Engelhardt. The manufacturer pointed to the following features:
• Fastening capability: Fixing capabilities that eliminate the need for threaded wallboard anchors or nailing to wall studs for fixtures under 13.6kg.
• Builder and developer upgrades: Offers professionals an upmarket option, replacing standard wallboard in high-traffic and high-impact areas of the home.
• Better acoustics: Delivers homeowners better sound insulation than traditional wallboard.
Gypsum Management & Supply acquires Gypsum Supply Co
11 January 2016US: Gypsum Management & Supply (GMS), a Georgia-based distributor of specialty interior building products, has bought Gypsum Supply Co. Inc. for an undisclosed sum. Gypsum Supply has one location in Toledo and seven sites across Michigan.
"We are thrilled to welcome Gypsum Supply Co. to the GMS family," said the President and CEO of GMS, Mike Callahan. "The acquisition positions us to capitalise on markets throughout Michigan and Northwest Ohio. We plan to leverage the long-term relationships and reputation that Gypsum Supply Co. has built to enhance our presence in this strategic market. We believe that the company and its employees are a natural partner for our growing company as their culture and dedication to excellence mirrors our own mission."