Displaying items by tag: US

US: The Gypsum Association, the gypsum industry association for North America, has announced that Stephen H Meima has assumed the position of Deputy Executive Director / Chief Operating Officer. The association said that, in this role, Maima would help strengthen the organisation as the gypsum wallboard industry's pre-eminent resource for leadership, education and objective expertise.

"I'm looking forward to working closely with Gypsum Association Executive Director Michael Gardner, the Board of Directors and committees and the staff to promote the value and sustainability of gypsum board and gypsum panel products," said Meima. "I am, indeed, eager to help advance the development, growth and general welfare of the gypsum industry in the US and Canada."

Michael Gardner praised Meima's extensive background in marketing and building materials management. "This position will contribute significantly to the Gypsum Association's ability to meet the challenges of representing a building materials industry as the economy continues to recover," said Gardner. "Steve's strong industry background and his experience in sustainability issues impart a substantial talent to our organisation."

US: US private equity firm HIG Capital LLC said that its portfolio firm, gypsum and plaster products maker Harrison Gypsum LLC had bought the Eagle Ford unit of aggregate materials and soil stabilisation products supplier Pinnacle Materials LLC. Financial details were not revealed.

US: PABCO Building Products has acquired the QuietRock sound-proofing wallboard business from Serious Energy, a producer of acoustic and thermal insulation. PABCO has not disclosed the cost of the purchase.

"Given our long history with PABCO, we were happy when they sought to acquire the QuietRock business. We look forward to a smooth transition," said Tassilo Baeuerle, the president and CEO of Serious Energy. Ryan Lucchetti, president of PABCO, added that the acquisition would expand PABCIOs range of products and give it access to new technology and staff.

QuietRock provides soundproof wallboard products to the commercial and residential building markets. PABCO is a longstanding QuietRock supplier and it plans to continue production at the QuietRock manufacturing site in Newark, California, according to Serious Energy.

US: USG Corporation (USG) has reported that its net sales rose by 15% year-on-year to US$916m in the second quarter of 2013 from US$798m in the same period in 2012. Net income rose to US$25m in the quarter compared to a loss of US$57m in 2012.

"We are pleased to generate net income for the second consecutive quarter," said James S Metcalf, Chairman, President and CEO. "Results in all major business units have improved from one year ago, including L&W Supply, which achieved an operating profit for the first time since 2008." Metcalf attributed the results to the success of the company's 'Plan to Win' business strategy.

Business unit highlights from the second quarter of 2013 included a 12% rise in wallboard shipments to 120MM2 from 107MM2.

US: International Paper has finalised the sale of its Temple-Inland Building Products division to Georgia-Pacific Building Products for US$710m in cash, subject to a customary closing adjustment. The division's assets comprise 15 manufacturing facilities including four gypsum wallboard plants. The facilities are located across eight states, primarily in the south-eastern and eastern portions of the US. The deal was originally announced in late 2012.

US: Mined gypsum supply in the US has risen by 43% to 3.41Mt in the first quarter of 2013 from 2.38Mt in the same quarter of 2012, according to a report from the United States Geological Survey (USGS). Imported gypsum production rose in the quarter year-on-year to 0.85Mt and synthetic gypsum production fell year-on-year to 1.79Mt. The overall total supply of gypsum rose by 21% year-on-year to 6.05Mt from 5.01Mt.

Total supply of board products stood at 327MM² for the first quarter of 2013, a slight decline compared to 334MM² for the first quarter of 2012 and a 19% fall to 403MM² in the fourth quarter of 2012. Major crude gypsum importers in the first quarter of 2013 included Mexico (0.34Mt), Canada (0.27Mt) and Spain (0.24Mt).

US: Lafarge has announced that is preparing the sale of its North American gypsum business to US private equity firm Lone Star in a deal worth an enterprise value of US$700m.

Lafarge North America's Gypsum division manufactures gypsum wallboards and joint compounds throughout a network of plants in the United States and Canada, including three US gypsum wallboard plants. In 2012, these operations generated sales of US$310m. The assets have been held for sale in the Lafarge's consolidated balance sheet since 2011.

This transaction, which is expected to close very soon, is subject to the satisfaction of customary closing conditions.

Global building materials producer Lafarge reduced its net debt by Euro700m in 2012 to Euro11.3bn. It sold the majority of its worldwide gypsum business – in Asia, Europe, South America and Australia – to Boral and Etex in 2011. Lafarge retains a 20% stake in the joint venture with Etex.

US: Eagle Materials' revenue has increased by 30% to US$643m for its financial year to 31 March 2013, from US$495m in the same period of 2011 – 2012. The US-based building materials provider saw fourth quarter results improve across all business lines reflecting an improving construction market in the US.

Eagle's gross profit for the year more than doubled to US$103m in 2013 – 2012 from US$40.5m in 2012 – 2011. Revenues for its gypsum wallboard business rose by 41% to US$307m from US$218m. Sales volumes of wallboard rose by 17% to 177MM2 from 152MM2. Eagle attributed the increase in operating earnings to higher net wallboard sales prices and sales volumes.

US: A Florida-based property development built with 'defective' Chinese wallboard has reached a US$22m settlement with the manufacturer, supplier and installer, according to its attorney.

The settlements mark the first time a multifamily structure has received compensation under the multi-district litigation in New Orleans federal court, which consolidated Chinese wallboard lawsuits from the individual homeowner to the wallboard makers, said attorney Greg Weiss of Palm Beach Gardens. Weiss has represented the owners of 320-unit Villa Lago at Renaissance Commons in Boynton Beach.

Knauf Plasterboard Tianjin reached a global settlement in the litigation to pay for the repairs. It is estimated Knauf will have to pay US$10.2m to repair Villa Lago. A previous US$4.6m settlement had been reached with the builder, RJR Holdings II LLC, Boynton Beach. In a twist, RJR Holdings was both a defendant and a plaintiff after developing the property and still owning 130 units.

US: James Metcalf, the CEO of United States Gypsum, received a pay rise of 31% to US$7.7m in 2012, according to figures released in the company's proxy statement.

Although Metcalf's basic salary rose by 5% to US$867,000 in 2012, other perks such as stock awards, option awards and non-equity incentive plan compensation took the total from US$5.86m in 2011 to US$7.7m in 2012.

In 2012 the US wallboard manufacturer reported a loss of US$126m, reduced from US$390m in 2011.