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Boral profit grows by 23% to US$97.2m for half year
Written by Global Gypsum staff
11 February 2016
Australia: Boral's profit after tax has grown by 23% year-on-year to US$97.2m in the first half of its 2016 financial year. It reported a profit of US$80m for the same period in its 2015 period. It attributed the growth to a strong residential market and growth in New South Wales (NSW) with cost cutting, price rises and slightly higher property earnings for its construction materials and cement business. Overall revenue fell by 4% year-on-year to US$1.6bn.
"The success of the first half is underpinned by a very strong residential construction market in NSW, a solid performance in South-East Queensland, further recovery in the US and a successful growth strategy in the gypsum business in Australia and Asia," said Boral CEO and Managing Director Mike Kane.
Boral's gypsum business reported a 13% rise in revenue to US$505m. This was attributed to increased penetration of Sheetrock brand wallboard, resulting in higher overall pricing, and stronger non-board sales. Strong volume growth in Australia was offset by contraction in key Asian markets and a reversal of a short-term market share gain in South Korea.
USG gypsum profit grows 65% in 2015
Written by Global Gypsum staff
08 February 2016
US: 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
Written by Global Gypsum staff
05 February 2016
US: 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.
Four Chinese gypsum miners rescued
Written by Global Gypsum staff
02 February 2016
China: Four miners were rescued from a collapsed gypsum mine in Shandong Province on 29 January 2016 after 36 days trapped underground. About 1000 people have been involved in the rescue efforts, complicated by falling rocks, unstable geological structures, water outbursts and carbon monoxide leaks, according to the Xinhua news agency. The rescue was made after a 220m shaft was drilled to the trapped miners.
One miner died in the accident on 25 December 2015, while 11 were saved immediately after the incident, according to the report. Thirteen miners are still missing. The owner of the mine committed suicide by jumping into a flooded shaft after the accident and several executives of the mine are under police investigation.
Azeri president attends opening of Ağdağ gypsum plaster plant
Written by Global Gypsum staff
02 February 2016
Azerbaijan: The president of Azerbaijan has attended the opening of the 0.4Mt/yr Ağdağ gypsum plaster plant built by Matanat-A in Baku's Garadagh District on 30 January 2016. The plant has been built using US$0.9m loan from the national business promotion fund. It employs more than 800 workers.
Suppliers supporting the project include Boemer, Saake, Haver and Boecker, Atlas Copco, ABB, Caterpillar, STP and Erisim. Half of the products made at the plant will be exported to Russia, Kazakhstan, Georgia, Turkmenistan, Ukraine and Iran.