Formation of USG Corporation and Boral Limited Joint Venture Delayed Due to Regulatory Process
January 27 2014 - 3:30PM
Business Wire
USG Corporation (NYSE: USG) announced today that it and Boral
Limited (ASX: BLD) continue to progress toward completion of their
50/50 strategic joint venture. While completion was originally
anticipated to occur by January 31, 2014, it is now expected to
occur on or before February 28, 2014, due to additional time being
necessary to obtain regulatory approvals.
About USG Corporation:
USG Corporation is a manufacturer and distributor of innovative,
high-performance building systems through its United States Gypsum
Company, USG Interiors, LLC, L&W Supply Corporation and other
subsidiaries. Headquartered in Chicago, USG’s Worldwide operations
serve the commercial, residential, and repair and remodel
construction markets, enabling our customers to build the
outstanding spaces where people live, work and play. USG wall,
ceiling, exterior sheathing, flooring underlayment and roofing
systems provide leading-edge building solutions, while L&W
Supply branch locations efficiently stock and deliver building
materials throughout the United States. USG and its subsidiaries
are proud sponsors of the U.S. Olympic and Paralympic teams and the
Canadian Olympic team. For additional information, visit
www.usg.com.
This press release contains forward-looking statements within
the meaning of the Private Securities Litigation Reform Act of 1995
related to management’s expectations about future conditions.
Actual business, market or other conditions may differ materially
from management’s expectations and, accordingly, may affect our
sales and profitability or other results and liquidity. Actual
results may differ materially due to various other factors,
including: economic conditions, such as the levels of new home and
other construction activity, employment levels, the availability of
mortgage, construction and other financing, mortgage and other
interest rates, housing affordability and supply, the levels of
foreclosures and home resales, currency exchange rates and consumer
confidence; capital markets conditions and the availability of
borrowings under our credit agreement or other financings; our
substantial indebtedness and our ability to incur substantial
additional indebtedness; competitive conditions, such as price,
service and product competition; shortages in raw materials;
changes in raw material and energy costs; volatility in the
assumptions used to determine the funded status of our pension
plans; the loss of one or more major customers and our customers’
ability to meet their financial obligations to us; capacity
utilization rates for us and the industry; our ability to expand
into new geographic markets and the stability of such markets; our
ability to successfully enter into and operate the joint venture
with Boral Limited, including risks that our joint venture partner,
Boral Limited, may not fulfill its obligations as an investor or
may take actions that are inconsistent with our objectives; our
ability to protect our intellectual property and other proprietary
rights; changes in laws or regulations, including environmental and
safety regulations; the satisfactory performance of certain
business functions by fourth party service providers; our ability
to achieve anticipated savings from cost reduction programs; the
outcome in contested litigation matters; the effects of acts of
terrorism or war upon domestic and international economies and
financial markets; and acts of God. We assume no obligation to
update any forward-looking information contained in this press
release. Additional information concerning these and other factors
may be found in our filings with the Securities and Exchange
Commission, including the “Risk Factors” in our most recent Annual
Report on Form 10-K and Quarterly Report on Form 10-Q.
USG CorporationMediaRobert Williams(312)
436-4356rewilliams@usg.comorInvestorsMatthew Ackley(312)
436-6263investorrelations@usg.com
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