Saudi Arabia: National Gypsum Company has reported that its net income for the first quarter of 2013 fell year-on-year by 31.5% to US$1.72m from US$2.50m in the same period in 2012. The wallboard producer attributed the decrease in net income to increased competition.
National Gypsum Company noted that its gross profit for the first quarter of 2013 fell by 6% to US$2.25m from US$2.39m. Operational income fell by 8.84% to US$1.65m from US$1.81m
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.
India: The Finance Ministry has imposed an anti-dumping duty on wallboard imported from China, Indonesia, Thailand and the UAE. The import tax has been declared valid for five years starting from 7 June 2012 when the provisional anti-dumping duty was first imposed. The duty excludes fire-resistant boards.
For wallboard imports from China, the duty is US$32.9/m3. For imports from Indonesia the duty is US$24.1/m3. For imports from Thailand, wallboard produced and exported by Siam Gypsum Industry (Saraburi) and Siam Gypsum Industry (Songkhla) has received a preferential rate of US$54.5/m3. All other wallboard imports from Thailand will receive a duty of US$73.8/m3. For imports from UAE produced and exported by Gypsemna Dubai the duty is US$12.3/m3. All other imports from UAE will receive a duty of US$20.2/m3.
US: More than a dozen lawsuits alleging price-fixing on the part of major manufacturers of wallboard have been consolidated in the Eastern District of Pennsylvania. The location was chosen as most of the parties are located in the area and a majority of the parties advocated for consolidation in that district. US District Judge Michael Baylson will handle the case.
"From at least September 2011 to the present the defendants, manufacturers of gypsum board, combined and conspired to fix and raise the prices at which they sold gypsum board in the United States beginning with large and coordinated price increases that all became effective on or about 1 or 2 January 2012," according to the complaint filed in one case originating in the Eastern District of Pennsylvania, Janicki Drywall versus CertainTeed.
Major manufacturers of wallboard have annual sales of more than US$5bn, according to the complaint and the defendants are seeking treble damages. The defendants in the suit account for more than 99% of wallboard sold in North America, according to the complaint. They are USG, National Gypsum, CertainTeed, Georgia-Pacific, American Gypsum, Lafarge, Temple-Inland and PABCO.
In a previous status conference for the Eastern District of Pennsylvania cases, Steven Bizar of Buchanan Ingersoll & Rooney was named as interim liaison counsel for the defence, while H Laddie Montague Jr of Berger & Montague had been named interim liaison counsel for the plaintiffs.
