USG Corporation

East Saint Louis, IL, United States

USG Corporation

East Saint Louis, IL, United States
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News Article | May 1, 2017
Site: www.businesswire.com

CHICAGO--(BUSINESS WIRE)--USG Corporation (NYSE:USG) today announced the pricing of a private offering of $500 million aggregate principal amount of its 4.875% senior notes due 2027 (the “New Notes”). The New Notes will be the unsecured obligations of USG, and USG’s obligations under the New Notes will be guaranteed on a senior unsecured basis by certain of its domestic subsidiaries. The offering of the New Notes is expected to close on May 15, 2017. USG intends to use all or a portion of the net proceeds from the offering of New Notes to repurchase its outstanding 7.75% Senior Notes due 2018 (the “2018 Notes”) that are tendered pursuant to the cash tender offer that USG commenced today and to pay related costs and expenses. USG also intends to use any remaining net proceeds from the offering of New Notes and cash on hand to redeem any 2018 Notes that remain outstanding after completion of the tender offer. The New Notes will be offered and sold only to persons reasonably believed to be qualified institutional buyers in accordance with Rule 144A under the Securities Act of 1933, as amended (the “Securities Act”), and to non-U.S. persons in accordance with Regulation S under the Securities Act. When issued, the New Notes will not have been registered under the Securities Act or state securities laws and may not be offered or sold in the United States absent registration or an applicable exemption from the registration requirements of the Securities Act and applicable state securities laws. This press release does not constitute an offer to sell or the solicitation of an offer to buy the New Notes or any other securities and shall not constitute an offer, solicitation or sale in any jurisdiction in which, or to any person to whom, such an offer, solicitation or sale is unlawful. Any offers of the New Notes will be made only by means of a private offering circular. USG Corporation is an industry-leading manufacturer of building products and innovative solutions. Headquartered in Chicago, USG serves construction markets around the world through its United States Gypsum Company and USG Interiors, LLC subsidiaries and its international subsidiaries, including its USG Boral Building Products joint venture. Its wall, ceiling, flooring, sheathing and roofing products provide the solutions that enable customers to build the outstanding spaces where people live, work and play. Its USG Boral Building Products joint venture is a leading plasterboard and ceilings producer across Asia, Australasia and the Middle East. 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, including but not limited to, the offering of the New Notes and the use of proceeds, and the repurchase and redemption of the 2018 Notes. Actual business, market or other conditions may differ materially from management’s expectations and, accordingly, may affect USG’s sales and profitability or other results and liquidity. Any forward-looking statements represent USG’s views only as of today and should not be relied upon as representing USG’s views as of any subsequent date and USG undertakes no obligation to update any forward-looking statement. Actual results may differ materially due to various other factors, including: economic conditions, such as employment, household formation, home ownership rate, existing home price trends, availability of mortgage financing, interest rates, consumer confidence, job growth and discretionary business investment; USG’s ability to maintain or achieve price increases; the loss of one or more major customers; the impact on USG’s performance and financial results due to the disposition of L&W Supply, one of USG’s largest customers; competitive conditions, such as price, quality and range of products; unexpected operational difficulties or catastrophic events at USG’s facilities; an increasing number of USG’s customers having significant buying power; increased costs, or decreased availability, of key raw materials or energy; USG’s ability to successfully operate the joint venture with Boral Limited, including risks that USG’s joint venture partner, Boral Limited, may not fulfill its obligations as an investor or may take actions that are inconsistent with USG’s objectives; exposure to risks of operating internationally; USG’s ability to innovate and protect USG’s intellectual property and other proprietary rights; USG’s ability to make capital expenditures and achieve the expected return on investment; a disruption in USG’s information technology systems; significant changes in factors and assumptions used to measure USG’s defined benefit plan obligations; changes in laws or regulations, including environmental and safety regulations; the outcome in legal and governmental proceedings; the ability of a small number of stockholders to influence USG’s business and stock price; USG’s ability to successfully pursue and complete acquisitions, joint ventures and other transactions to complement or expand USG’s businesses; USG’s ability to return capital to stockholders; the occurrence of an “ownership change” within the meaning of the Internal Revenue Code; ability to incur substantial additional indebtedness; the effects of acts of terrorism or war upon domestic and international economies and financial markets; and acts of God. USG assumes no obligation to update any forward-looking information contained in this press release. Additional information concerning these and other factors may be found in USG’s filings with the Securities and Exchange Commission, including the “Risk Factors” in USG’s most recent Annual Report on Form 10-K.


News Article | May 5, 2017
Site: www.businesswire.com

LONDON--(BUSINESS WIRE)--Technavio has announced the top five leading vendors in their recent global cement additives market report. This research report also lists 10 other prominent vendors that are expected to impact the market during the forecast period. The global cement additives market is expected to grow at a moderate growth rate in terms of revenue during the forecast period. The growth of the cement industry can be attributed to the increase in the demand for cement for construction purpose globally. Markets in APAC and ROW will have a higher growth rate because of the high demand in residential and non-residential end-user segments. The growth can be attributed to the increase in population and the increasing use of cement in these regions. According to the report, the global cement additives market is one of the growing markets consisting of major vendors that are present globally. These products are used for producing a concrete mixture. Vendors focus on manufacturing products that comply with the fluctuating prices of raw materials in the fiber market. “The major players have a vast geographic presence with large production facilities located globally. They have manufacturing facilities located across the world and operate capacities through strategic partnerships,” says Ajay Adhikari, a lead metals and minerals research analyst from Technavio. However, there are a sizeable number of large regional vendors that hold significant shares in the market. Major vendors in the market seek to expand their geographic presence through M&As or joint ventures as it gives them easy access to growth markets and dilutes the regional business risks. Looking for more information on this market? Request a free sample report Technavio’s sample reports are free of charge and contain multiple sections of the report including the market size and forecast, drivers, challenges, trends, and more. BASF offers chemicals such as MasterCem, which increases the efficiency and sustainability while yielding higher performance. The chemical compounds are segregated into cement grinding aids, performance enhancers, and specialty products. MasterCem cement additives develop grinding efficiency, lower the clinker factor, and increase the mill throughput with an overall reduction in CO₂ emissions. Sika is one of the largest chemical additives providers in the global construction chemicals market. The company operates through construction and industry segments. The company targets various end-users with a variety of products such as concrete chemicals, elastic sealing and bonding chemicals, waterproofing chemicals, roofing systems, and flooring systems. The company offers cement additives such as WALOCEL MKW for cement render, and DOW latex powders (DLP) and redispersible polymer powders (RDP) for cement-based tile adhesives. USG Corporation produces chemicals used in fillers for cement and plastics segment, oil and gas cementing, and additives. The product fillers offered for cement and plastics segment are USG Snow White Calcium Sulfate Filler, USG CAS-20-4 Calcium Sulfate Filler, USG Terra Alba No.1, USG Industrial Filler No.1, and USG Industrial Ground Gypsum. W. R. Grace is a specialty chemicals and specialty materials company. The company has a global presence with 110 manufacturing units all over the world. It offers products and solutions to many industries, including, tires and rubber, refractory, precision investment casting, insulating glass windows, adsorbents, coatings and print media applications, pharmaceutical, life science and related applications. Become a Technavio Insights member and access all three of these reports for a fraction of their original cost. As a Technavio Insights member, you will have immediate access to new reports as they’re published in addition to all 6,000+ existing reports covering segments like agrochemicals and fertilizers, paints, coatings, and pigments, and textile, fiber, and composites. This subscription nets you thousands in savings, while staying connected to Technavio’s constant transforming research library, helping you make informed business decisions more efficiently. Technavio is a leading global technology research and advisory company. The company develops over 2000 pieces of research every year, covering more than 500 technologies across 80 countries. Technavio has about 300 analysts globally who specialize in customized consulting and business research assignments across the latest leading edge technologies. Technavio analysts employ primary as well as secondary research techniques to ascertain the size and vendor landscape in a range of markets. Analysts obtain information using a combination of bottom-up and top-down approaches, besides using in-house market modeling tools and proprietary databases. They corroborate this data with the data obtained from various market participants and stakeholders across the value chain, including vendors, service providers, distributors, re-sellers, and end-users. If you are interested in more information, please contact our media team at media@technavio.com.


News Article | May 22, 2017
Site: en.prnasia.com

NEW DELHI, May 22, 2017 /PRNewswire/ -- USG Boral, a global leader in building products technology, announced plans to build a new plasterboard plant in South India. The new plant will be operated by its India business unit, USG Boral Building Products India Pte Ltd, whose CEO & Managing Director is Koushik Sarkar. The plant will support USG Boral's commitment in the region as the company looks for ways to better serve its customers in India. This location will allow for 30 million m2 of plasterboard capacity in a standalone facility located in South India. The new facility will add to USG Boral's India presence, where it currently operates two other facilities, a 9 million m2 plasterboard & metal plant in Khushkhera, near New Delhi, and a joint compound & putty plant, in the Chennai area. Plans are underway to break ground in the September quarter of 2017. The plant is expected to be fully operational in 24 months. More than 100 people are expected to be employed at full capacity. Frederic de Rougemont, CEO of USG Boral, said that its customers in India will benefit from the world-leading technology available to USG Boral, which will be used in the products built at the facility in South India. "This facility offers us the ability to significantly increase our operations in India and provide our customers in the region with the best plasterboard products. "We are committed to delivering the highest quality and most technologically advanced building solutions for walls and ceilings across Asia, Australasia and the Middle East. "Our India business has experienced strong growth and this investment strongly positions the company to continue to supplying our customers in the South as demand for high quality, high strength plasterboard products grows in the medium and longer-term," said Mr. de Rougemont. The South India plant is an investment by USG Boral, the joint venture of USG Corporation and Boral Limited. The company is a leading manufacturer and supplier of gypsum board-based wall and ceiling lining systems, mineral fiber acoustical ceiling systems, metal framing, joint compounds, high-performance panels and accessories throughout Asia, Australasia and the Middle East. USG Boral India is a leading plasterboard, metal, joint compound, putty and mineral fiber ceiling products company, which has supplied the Indian market since 2008. Headquartered in Kuala Lumpur, Malaysia, USG Boral Building Products was founded in 2014 as a joint venture between USG Corporation and Boral Limited. A leading manufacturer and supplier of plasterboards, USG Boral produces plasterboard, ceiling tile and suspension systems, metal framing, jointing compounds, and industrial plasters across Asia, Australia and the Middle East. USG Boral has approximately 3,500 employees, 23 manufacturing plants and 3 gypsum mines across Australia, China, Thailand, Indonesia, South Korea, Vietnam, India, Malaysia, Philippines, Oman and Saudi Arabia. The company main brand names include USG Boral, Sheetrock®, Elephant, Jayaboard®, Durock® and Donn DX® -- the world's most widely specified and installed ceiling suspension system. www.usgboral.com


News Article | July 26, 2017
Site: www.businesswire.com

CHICAGO--(BUSINESS WIRE)--USG Corporation (NYSE:USG), an industry leading manufacturer of building products and innovative solutions, today reported results for the second quarter of 2017. “ Our US wallboard shipments in the second quarter of 2017 were up double-digits and were at the highest levels we have seen since 2008,” said Jennifer F. Scanlon, President and CEO. “ However, rising commodity costs and a competitive pricing environment weighed on our operating margins and second quarter performance. We are taking actions to address inflation and will continue our strategic investment in advanced manufacturing to deliver profitable growth.” On a consolidated basis in the second quarter of 2017, net sales were $811 million, compared to $769 million in the second quarter of 2016. Operating profit decreased to $96 million from $122 million, while adjusted operating profit decreased to $117 million from $127 million in the second quarter of 2017 compared to the second quarter of 2016. USG generated $36 million in net income and $0.24 per diluted share in the second quarter of 2017, compared to $74 million and $0.50 per diluted share in the second quarter of 2016. On an adjusted basis, net income of $64 million and diluted earnings per share of $0.44 in the second quarter of 2017 increased from $61 million and $0.42, respectively, in the second quarter of 2016. A full reconciliation of GAAP to adjusted metrics is set forth on an attached schedule. The corporation’s Gypsum segment generated $90 million of operating profit in the second quarter of 2017. On an adjusted basis, operating profit of $95 million in the Gypsum segment decreased by $6 million from the second quarter of 2016. US wallboard volumes increased by 10% in the second quarter of 2017. US wallboard price decreased by approximately 1% due primarily to competitive pricing pressures and the impact of transitioning certain wallboard volumes from wholly-owned distribution at L&W Supply, which was sold in 2016, to independent distribution. US wallboard manufacturing costs increased by $8 million due almost exclusively to inflation in waste paper costs. The Ceilings segment earned $23 million of operating profit in the second quarter of 2017. On an adjusted basis, operating profit of $24 million in the Ceilings segment decreased by $8 million from the second quarter of 2016. The reduction in operating profit was driven primarily by higher steel costs as well as lower ceiling tile pricing. The USG Boral business generated $14 million of equity income in the second quarter of 2017, a decrease of $2 million from the second quarter of 2016. The impact of increased plasterboard volumes was more than offset by higher manufacturing costs and an increase in withholding taxes on an intercompany dividend. “ This quarter we launched the Commercial Construction Index, a new quarterly index that will help measure the health and vitality of the commercial construction industry,” added Scanlon. " The initial results from the survey validate our efforts to create and bring to market innovative products like Ensemble™ Monolithic Acoustical Ceiling Systems and Sheetrock® Brand EcoSmart Panels, which we introduced this year. These products address challenges faced by our industry, including speed of construction, labor availability, and sustainability.” A conference call is being held today at 9:00 a.m. Eastern time (8:00 a.m. Central time) during which USG senior management will discuss the corporation’s operating results. The conference call will be webcast on the USG investor relations website, investor.usg.com, where the accompanying presentation materials can be found. The dial-in number for the conference call is 1-888-771-4371 in the United States and Canada (1-847-585-4405 for other international callers), and the pass code is 45163620. After the live webcast, a replay of the webcast will be available on the USG website. In addition, a telephonic replay of the call will be available until Friday, August 25, 2017. The replay dial-in number is 1-888-843-7419 (1-630-652-3042 for international callers), and the pass code is 45163620. USG Corporation is an industry-leading manufacturer of building products and innovative solutions. Headquartered in Chicago, USG serves construction markets around the world through its United States Gypsum Company and USG Interiors, LLC subsidiaries and its international subsidiaries, including its USG Boral Building Products joint venture. Its wall, ceiling, flooring, sheathing and roofing products provide the solutions that enable customers to build the outstanding spaces where people live, work and play. Its USG Boral Building Products joint venture is a leading plasterboard and ceilings producer across Asia, Australasia and the Middle East. For additional information, visit www.usg.com. In this press release, the corporation’s financial results are provided both in accordance with accounting principles generally accepted in the United States of America (GAAP) and using certain non-GAAP financial measures. In particular, the corporation presents the non-GAAP financial measures adjusted operating profit, adjusted net income, adjusted selling and administrative expenses, and adjusted earnings per diluted share, which exclude certain items. The non-GAAP financial measures are included as a complement to results provided in accordance with GAAP because management believes these non-GAAP financial measures help investors’ ability to analyze underlying trends in the corporation’s business, evaluate its performance relative to other companies in its industry and provide useful information to both management and investors by excluding certain items that may not be indicative of the corporation’s core operating results. In addition, adjusted operating profit includes the income from the corporation's equity method investments, including USG Boral Building Products, because management views the joint ventures as a business unit, even though the corporation’s share of the joint venture is 50%. In addition, the corporation uses adjusted net income as a component in the measurement of incentive compensation. Prior year adjusted results also exclude results from Gypsum Transportation Limited (GTL), a shipping operation that the corporation has exited. Adjustments to net earnings are shown net of the tax effect computed at applicable statutory rates. The non-GAAP measures should not be considered a substitute for or superior to GAAP results and may vary from others in the industry. For further information related to the corporation’s use of non-GAAP financial measures, and reconciliations to the nearest GAAP measures, see the schedules attached hereto. 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, including, but not limited to, our actions to address inflation and our strategic investment in advanced manufacturing. 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. Any forward-looking statements represent our views only as of today and should not be relied upon as representing our views as of any subsequent date and we undertake no obligation to update any forward-looking statement. Actual results may differ materially due to various other factors, including: economic conditions, such as employment, household formation, home ownership rate, existing home price trends, availability of mortgage financing, interest rates, consumer confidence, job growth and discretionary business investment; our ability to maintain or achieve price increases; the loss of one or more major customers; the impact on our performance and financial results due to the disposition of L&W Supply, one of our largest customers; competitive conditions, such as price, quality and range of products; unexpected operational difficulties or catastrophic events at our facilities; an increasing number of our customers having significant buying power; increased costs, or decreased availability, of key raw materials or energy; our ability to successfully 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; exposure to risks of operating internationally; our ability to innovate and protect our intellectual property and other proprietary rights; our ability to make capital expenditures and achieve the expected return on investment; a disruption in our information technology systems; significant changes in factors and assumptions used to measure our defined benefit plan obligations; changes in laws or regulations, including environmental and safety regulations; the outcome in legal and governmental proceedings; the ability of a small number of stockholders to influence our business and stock price; our ability to successfully pursue and complete acquisitions, joint ventures and other transactions to complement or expand our businesses; our ability to return capital to stockholders; the occurrence of an “ownership change” within the meaning of the Internal Revenue Code; ability to incur substantial additional indebtedness; 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.


News Article | July 12, 2017
Site: www.businesswire.com

CHICAGO--(BUSINESS WIRE)--USG Corporation (NYSE:USG), an industry-leading manufacturer of building products and innovative solutions, will hold a conference call and webcast to discuss second quarter 2017 results on Wednesday, July 26, 2017 at 9:00 a.m. Eastern time (8:00 a.m. Central time). This call and webcast, as well as accompanying presentation materials, can be accessed at USG’s investor relations website at http://investor.usg.com. To participate by phone, please dial 1-888-771-4371 (U.S. & Canada). International callers should dial 1-847-585-4405. Please call ten minutes prior to the start time. The pass code is 45163620. A replay of the webcast will be available on the USG website until Friday, August 25, 2017. A telephone replay of the call will also be available. The replay dial-in number is 1-888-843-7419 (1-630-652-3042 for international callers), and the pass code is 45163620. The telephonic replay will be available until Friday, August 25, 2017 as well. USG Corporation is an industry-leading manufacturer of building products and innovative solutions. Headquartered in Chicago, USG serves construction markets around the world through its United States Gypsum Company and USG Interiors, LLC subsidiaries and its international subsidiaries, including its USG Boral Building Products joint venture. Its wall, ceiling, flooring, sheathing and roofing products provide the solutions that enable customers to build the outstanding spaces where people live, work and play. Its USG Boral Building Products joint venture is a leading plasterboard and ceilings producer across Asia, Australasia and the Middle East. For additional information, visit www.usg.com.


The Index is a new quarterly economic indicator designed to gauge what drives the commercial construction industry and its leaders, including specific issues like backlog of work, new business pipeline, revenue projections, workforce issues, and access to financing. Given the sector's importance to the U.S. economy and the outsized role it could play in years to come, the data contained in the Index will be vital to better understanding trends, challenges and opportunities. The research was developed with Dodge Data & Analytics (DD&A), the leading provider of insights and data for the construction industry, by surveying commercial and institutional contractors. "This first-of-its-kind Index was born out of a need to understand the issues that affect commercial construction. The Index will deliver critical insights into the future health of the industry," said Jennifer Scanlon, president and chief executive officer of USG Corporation. "USG is committed to providing solutions for our customers in order to help the entire industry make strong contributions to the U.S. economy. Through the Index we are able to identify areas of strength and pinpoint areas of improvement where industry leaders must focus." Two-thirds (66 percent) of contractors said they expect to employ more workers in the next six months, indicating growth in a sector that employs approximately 3 million Americans. But 61 percent of Index respondents reported difficultly finding skilled workers. The contractors reported the biggest shortages in the concrete, interior finishes/millwork, masonry, electrical and plumbing trades. "The commercial construction industry is a vital engine for the American economy," said Tom Donohue, president and CEO of the U.S. Chamber. "The projected growth uncovered in this research is good news for employers and workers, but there is reason for concern in the lack of qualified talent available in vital specialties. To get our economy growing to its full potential, we must ensure that we have a workforce that is ready to fill the available jobs. Each quarter, this first-of-its-kind research will make us smarter about future challenges and inform solutions for our country's leaders." The report looks at the results of three leading indicators – backlog levels, new business opportunities and revenue forecasts – to generate a composite index on a scale of 0-100 that serves as an indicator of health for the contractor segment on a quarterly basis. The Q2 2017 composite index score was 76, representing continued health in the sector. This composite score is up two points from a 74 in the Q1 survey, driven primarily by a bump in the ratio between actual and ideal backlog. New business and revenue results also saw slight increases quarter-over-quarter. The composite scores from the three drivers of confidence were: The Index findings are compiled using survey results from contractors within a DD&A panel of more than 2,700 decision makers from across key facets of the commercial construction industry. This first public report was developed using research from previous quarters, which puts into context the state of contractor sentiment in the U.S. building industry. About the Index The USG + U.S. Chamber of Commerce Commercial Construction Index is a quarterly economic index designed to gauge the outlook for, and resulting confidence in, the commercial construction industry. USG Corporation and the U.S. Chamber produce this Index, along with Dodge Data & Analytics (DD&A). Each quarter, researchers from DD&A source responses from their Contractor Panel of more than 2,700 commercial construction decision-makers in order to better understand their levels of confidence in the industry and other key trends. This panel allows DD&A to provide findings that are representative of the entire U.S. construction industry by geography, size, and type of company. Click here to see the full methodology. Please note the Commercial Construction Index report is intended for general informational purposes only. It is not intended to support an investment decision with respect to USG, nor is it intended to be used for marketing purposes to any existing or prospective investor of USG. This report is not a forecast of future results for USG and actual results of USG may differ materially from those of the commercial construction industry. Where the Index is Available The inaugural Index is, and each quarterly Index published going forward will be, available on the USG website at www.usg.com/news as well as on the website www.CommercialConstructionIndex.com. About the U.S. Chamber of Commerce The U.S. Chamber of Commerce is the world's largest business federation representing the interests of more than 3 million businesses of all sizes, sectors and regions, as well as state and local chambers and industry associations. For more information, visit www.uschamber.com. About USG Corporation USG Corporation is an industry-leading manufacturer of building products and innovative solutions. Headquartered in Chicago, USG serves construction markets around the world through its United States Gypsum Company and USG Interiors, LLC subsidiaries and its international subsidiaries, including its USG Boral Building Products joint venture. Its wall, ceiling, flooring, sheathing and roofing products provide the solutions that enable customers to build the outstanding spaces where people live, work and play. Its USG Boral Building Products joint venture is a leading plasterboard and ceilings producer across Asia, Australasia and the Middle East. For additional information, visit www.usg.com. To view the original version on PR Newswire, visit:http://www.prnewswire.com/news-releases/inaugural-commercial-construction-index-indicates-high-revenue-and-employment-expectations-for-2017-300474327.html


News Article | June 5, 2017
Site: www.businesswire.com

CHICAGO--(BUSINESS WIRE)--Jennifer Scanlon, President and Chief Executive Officer of USG Corporation (NYSE:USG), an industry-leading manufacturer of building products and innovative solutions, will take part in a panel discussion entitled “Combating Climate Change” at the 2017 Chicago Forum on Global Cities. The discussion, which will take place on Thursday, June 8 at 9 a.m. CST, will examine the role that cities, policy makers, architects, builders and the broader construction industry can play in combating the effects of climate change. Scanlon’s remarks will detail the role building practices and sustainable materials play in reducing the impact on the environment, as more than half of all greenhouse gas emissions and carbon dioxide emissions come from buildings. “As cities continue to grow at a rapid pace, the need for sustainable spaces is more important than ever,” said Jennifer Scanlon, President and Chief Executive Officer of USG Corporation. “USG is revolutionizing the way building products and solutions are manufactured to create safer and more sustainable structures that will lead to a better future for our communities and the environment. The Chicago Forum provides a unique venue to discuss the ways private sector innovations will continue to shape how global cities can combat climate change.” “Our forum brings together key decision makers from around the world to discuss achievements and debate the challenges global cities face, including critical issues such as climate change and sustainable development. The insights and perspectives brought by industry leaders like USG help shape important efforts that drive real change in our communities,” said Ivo H. Daalder, President of the Chicago Council on Global Affairs. “We value the support of companies like USG, which enables our forum to serve as a platform for engaging in constructive debates and identifying solutions to help us positively shape the future of global cities.” This panel discussion is part of an annual three-day forum, co-hosted by the Chicago Council on Global Affairs and the Financial Times, which convenes thought leaders and decision makers from across a diverse array of industries and geographies to examine and explore the role that global cities play in solving some of the world’s biggest challenges. The event takes place in Chicago June 7-9, 2017. One of the world’s leading manufacturers of building products and innovative solutions, USG has a legacy as a pioneer within the construction industry in the development of efficient, sustainable and innovative building products. Most recently, USG brought to market the world’s first sustainable wallboard, Sheetrock® Brand EcoSmart Panels, to address the unmet needs of architects who have committed to the Architecture 2030 Challenge and maximizing the sustainability of the built environment. This is one of the many ways that USG is thinking ahead and developing innovations that will help create better spaces for its customers and communities. For more information on the event or to view the webcast, visit the ChicagoForum.org. USG Corporation is an industry-leading manufacturer of building products and innovative solutions. Headquartered in Chicago, USG serves construction markets around the world through its United States Gypsum Company and USG Interiors, LLC subsidiaries and its international subsidiaries, including its USG Boral Building Products joint venture. Its wall, ceiling, flooring, sheathing and roofing products provide the solutions that enable customers to build the outstanding spaces where people live, work and play. Its USG Boral Building Products joint venture is a leading plasterboard and ceilings producer across Asia, Australasia and the Middle East. For additional information, visit www.usg.com. About the Chicago Council on Global Affairs The Chicago Council on Global Affairs is an independent, nonpartisan organization. The Council takes no institutional positions on policy issues. All statements of fact and expressions of opinion contained in any blog posts on this site are the sole responsibility of the author. References to specific nonprofit, private, or government entities are not an endorsement. To learn more, visit ChicagoForum.org, and follow @ChicagoForum and #GlobalCities2017 for updates.


CHICAGO--(BUSINESS WIRE)--Jennifer F. Scanlon, President and Chief Executive Officer of USG Corporation (NYSE:USG), an industry-leading manufacturer of building products and innovative solutions, will speak on Wednesday, May 17, 2017 at the J.P. Morgan Homebuilding & Building Products Conference at J.P. Morgan in New York City. The presentation is scheduled to begin at approximately 8:00 a.m. Eastern Time. A live webcast of the presentation may be accessed from the Investor Relations web page of the USG Corporation web site at investor.usg.com. To listen to the live webcast, participants must have a multimedia computer and Windows Media Player software. To download the software prior to the webcast, participants should visit investor.usg.com, click on the webcast link, complete the registration form and then click Help. Participants should access the webcast event page at least 15 minutes before the live event. The webcast will be archived and available on the Investor Relations web page until Wednesday, May 31, 2017. USG Corporation is an industry-leading manufacturer of building products and innovative solutions. Headquartered in Chicago, USG serves construction markets around the world through its United States Gypsum Company and USG Interiors, LLC subsidiaries and its international subsidiaries, including its USG Boral Building Products joint venture. Its wall, ceiling, flooring, sheathing and roofing products provide the solutions that enable customers to build the outstanding spaces where people live, work and play. Its USG Boral Building Products joint venture is a leading plasterboard and ceilings producer across Asia, Australasia and the Middle East. For additional information, visit www.usg.com.


CHICAGO--(BUSINESS WIRE)--USG Corporation (NYSE: USG) (“USG”) today announced the early results of the previously announced cash tender offer (the “Tender Offer”) for any and all of its outstanding 7.75% Senior Notes due 2018 (the “Notes”). The Tender Offer is being made on the terms and subject to the conditions set forth in the Offer to Purchase dated May 1, 2017 (the “Offer to Purchase”) and the related Letter of Transmittal (the “Letter of Transmittal”). The Tender Offer is scheduled to expire at 11:59 p.m., New York City time, on May 26, 2017, unless extended or earlier terminated as described in the Offer to Purchase (such time and date, as the same may be extended, the “Expiration Time”). As of 5:00 p.m., New York City time, on May 12, 2017 (the “Early Tender Time”), according to Global Bondholder Services Corporation (“GBS”), the Depositary and Information Agent in connection with the Tender Offer, tenders were received from holders of Notes and not validly withdrawn as outlined in the following table: Subject to the terms and conditions of the Tender Offer, holders of Notes who validly tendered and did not withdraw their Notes at or prior to the Early Tender Time will be entitled to receive $1,044.30 per $1,000 principal amount of Notes tendered, which includes the early tender premium of $30.00 per $1,000 principal amount of Notes tendered (the “Early Tender Premium”). Holders of Notes who validly tender their Notes after the Early Tender Time but at or prior to the Expiration Time will be entitled to receive $1,014.30 per $1,000 principal amount of Notes tendered, subject to the terms and conditions of the Tender Offer, and will not be entitled to receive the Early Tender Premium. In addition, holders whose Notes are accepted for purchase in the Tender Offer will be entitled to receive accrued interest up to, but not including, the applicable settlement date of the Notes, payable in cash. Payment for Notes tendered at or prior to the Early Tender Time is expected to be May 15, 2017 (such acceptance and payment, an “Early Settlement”). Payment for Notes validly tendered after the Early Tender Time but at or prior to the Expiration Time and accepted for purchase will be made promptly after the Expiration Time. Withdrawal rights with respect to the Notes tendered expired at 5:00 p.m., New York City time, on May 12, 2017, and holders who validly tender Notes after the Early Tender Time do not have withdrawal rights. The Tender Offer is subject to the satisfaction or waiver of a number of conditions as set forth in the Offer to Purchase, including the receipt by USG of proceeds from a proposed debt financing on terms reasonably satisfactory to USG, in its sole discretion, generating net proceeds in an amount that USG deems sufficient, together with cash on hand, to effect the repurchase of the Notes validly tendered and accepted for purchase pursuant to the Tender Offer, including payment of any premiums, Accrued Interest (as defined in the Offer to Purchase) and costs and expenses incurred in connection therewith. If USG proceeds with an Early Settlement, all conditions to the Tender Offer will be deemed to be waived, and USG will thereafter accept for purchase and pay for any Notes validly tendered in the Tender Offer To the extent that any Notes are not validly tendered in the Tender Offer, USG intends to redeem such remaining Notes pursuant to the redemption provisions of the indenture governing the Notes at the “make-whole” redemption price specified for the Notes, plus accrued and unpaid interest, if any, to, but not including, the redemption date. USG intends to deliver an irrevocable notice of redemption to the trustee at the completion of the debt financing. However, no assurance can be given that such untendered Notes will be redeemed as contemplated or at all. USG has retained Wells Fargo Securities, LLC to serve as dealer manager for the Tender Offer. USG has appointed GBS to serve as the depositary and information agent for the Tender Offer. For additional information regarding the terms of the Tender Offer, please contact Wells Fargo Securities, LLC at (866) 309-6316 (toll free) or (704) 410-4760 (collect). Requests for documents and questions regarding the Tender Offer should be directed to GBS at (212) 430-3774 (banks and brokers) or (866) 470-4200 (all others). None of USG, its board of directors, the dealer manager, GBS or the trustee for the Notes, or any of their respective affiliates, is making any recommendation as to whether Holders should tender any Notes in response to the Tender Offer. Holders must make their own decision as to whether to tender any of their Notes and, if so, the principal amount of Notes to tender. Documents for the Tender Offer, including the Offer to Purchase and the related Letter of Transmittal, are available at www.gbsc-usa.com/USG/, and may also be obtained by contacting GBS by telephone. This announcement is for informational purposes only and does not constitute an offer to buy or the solicitation of an offer to sell securities. The Tender Offer is being made solely by means of the Offer to Purchase and the related Letter of Transmittal. The Tender Offer is not being made to holders of Notes in any jurisdiction in which the making or acceptance thereof would not be in compliance with the securities, blue sky or other laws of such jurisdiction. In those jurisdictions where the securities, blue sky or other laws require any tender offer to be made by a licensed broker or dealer, the Tender Offer will be deemed to be made on behalf of USG by the dealer manager or one or more registered brokers or dealers licensed under the laws of such jurisdiction. USG Corporation is an industry-leading manufacturer of building products and innovative solutions. Headquartered in Chicago, USG serves construction markets around the world through its United States Gypsum Company and USG Interiors, LLC subsidiaries and its international subsidiaries, including its USG Boral Building Products joint venture. Its wall, ceiling, flooring, sheathing and roofing products provide the solutions that enable customers to build the outstanding spaces where people live, work and play. Its USG Boral Building Products joint venture is a leading plasterboard and ceilings producer across Asia, Australasia and the Middle East. 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, including but not limited to, the terms and timing of the Tender Offer and the redemption of any remaining Notes. Actual business, market or other conditions may differ materially from management’s expectations and, accordingly, may affect USG’s sales and profitability or other results and liquidity. Any forward-looking statements represent USG’s views only as of today and should not be relied upon as representing USG’s views as of any subsequent date and USG undertakes no obligation to update any forward-looking statement. Actual results may differ materially due to various other factors, including: economic conditions, such as employment, household formation, home ownership rate, existing home price trends, availability of mortgage financing, interest rates, consumer confidence, job growth and discretionary business investment; USG’s ability to maintain or achieve price increases; the loss of one or more major customers; the impact on USG’s performance and financial results due to the disposition of L&W Supply, one of USG’s largest customers; competitive conditions, such as price, quality and range of products; unexpected operational difficulties or catastrophic events at USG’s facilities; an increasing number of USG’s customers having significant buying power; increased costs, or decreased availability, of key raw materials or energy; USG’s ability to successfully operate the joint venture with Boral Limited, including risks that USG’s joint venture partner, Boral Limited, may not fulfill its obligations as an investor or may take actions that are inconsistent with USG’s objectives; exposure to risks of operating internationally; USG’s ability to innovate and protect USG’s intellectual property and other proprietary rights; USG’s ability to make capital expenditures and achieve the expected return on investment; a disruption in USG’s information technology systems; significant changes in factors and assumptions used to measure USG’s defined benefit plan obligations; changes in laws or regulations, including environmental and safety regulations; the outcome in legal and governmental proceedings; the ability of a small number of stockholders to influence USG’s business and stock price; USG’s ability to successfully pursue and complete acquisitions, joint ventures and other transactions to complement or expand USG’s businesses; USG’s ability to return capital to stockholders; the occurrence of an “ownership change” within the meaning of the Internal Revenue Code; ability to incur substantial additional indebtedness; the effects of acts of terrorism or war upon domestic and international economies and financial markets; and acts of God. USG assumes no obligation to update any forward-looking information contained in this press release. Additional information concerning these and other factors may be found in USG’s filings with the Securities and Exchange Commission, including the “Risk Factors” in USG’s most recent Annual Report on Form 10-K.


CHICAGO--(BUSINESS WIRE)--USG Corporation (NYSE:USG), an industry-leading manufacturer of building products and innovative solutions, has won two prestigious manufacturing awards from Frost & Sullivan’s Manufacturing Leadership Council. USG Corporation earned an award in the ‘Improving Operational Excellence’ category for its Lean Six Sigma (LSS) program achievements, and USG Mexico earned an award in the category of ‘Supply Chain Leadership’ for the optimization of its import logistics and distribution programs. The Manufacturing Leadership Awards recognize manufacturing organizations and individual leaders shaping the future of global manufacturing. “USG is committed to manufacturing excellence, and it is an honor to receive these prestigious Manufacturing Leadership Awards,” said Dom Dannessa, USG Corporation’s Executive Vice President and Chief Operations and Innovation Officer. “Investments in Lean Six Sigma and our Supply Chain have allowed us to better anticipate our customers’ needs so that we can continue to provide them with superior solutions.” "Winners of the 2017 Manufacturing Leadership Awards have proven vision and innovation are alive and well in the manufacturing industry," said David R. Brousell, Global Vice President and Editorial Director and co-founder of the Manufacturing Leadership Council. "By embracing the technology-driven transformation that we call Manufacturing 4.0, innovating new business models, and leveraging engaged workforces, these leaders are laying the groundwork for a new era of greater productivity in manufacturing." The LSS programs have enabled USG to improve profitability, develop stronger workforce capabilities and cultivate increased awareness around continuous improvement practices. To date, USG has implemented more than 1,000 LSS programs, bringing high-quality products and solutions to market with greater efficiency. Implementing LSS infrastructure has allowed USG to optimize production and pricing, cut transportation costs and reduce excess inventory, leading to more than $250 million in operational savings and significantly improving team productivity. Training USG’s best and brightest people to be deployed as LSS leaders, or “Belts,” was critical to the success of LSS initiatives, which were first launched in 2010 and expanded across USG’s manufacturing, corporate and former distribution divisions in subsequent years. USG Mexico received an award for its supply chain optimization programs. USG Mexico invested in local distribution centers to improve its ability to serve customers and to meet growing interests in USG’s full product portfolio in the region. The new distribution locations allow USG to deliver ceilings products to customers in Mexico nearly six times faster, in addition to reducing working capital across the network, improving waste recovery and providing greater flexibility in the type and quantities that customers can order. By using LSS methodology to create an optimized transportation and import strategy, USG Mexico established the distribution centers without any incremental cost, creating the potential for significant growth in Mexico. The Manufacturing Leadership Award winners will be honored on June 14, 2017 at a gala celebration that will take place in conjunction with the annual Frost & Sullivan Manufacturing Leadership Summit in Huntington Beach, California. USG Corporation is an industry-leading manufacturer of building products and innovative solutions. Headquartered in Chicago, USG serves construction markets around the world through its United States Gypsum Company and USG Interiors, LLC subsidiaries and its international subsidiaries, including its USG Boral Building Products joint venture. Its wall, ceiling, flooring, sheathing and roofing products provide the solutions that enable customers to build the outstanding spaces where people live, work and play. Its USG Boral Building Products joint venture is a leading plasterboard and ceilings producer across Asia, Australasia and the Middle East. For additional information, visit www.usg.com The Manufacturing Leadership Council, Frost & Sullivan, is the world’s first member-driven, global business leadership network dedicated to senior executives in the manufacturing industry. The Manufacturing Leadership Council’s mission is to help senior executives define and shape a better future for themselves, their organizations, and the industry at large. The Council produces an extensive portfolio of leadership networking, information, and professional development products, programs, and services, including the Manufacturing Leadership Community website, an online global business network with over 6,700 members worldwide; the Manufacturing Leadership Council, an invitation-only executive organization of over 260 members; the annual Manufacturing Leadership Summit; the Manufacturing Leadership Awards, celebrating industry achievement; and the thought-leading Manufacturing Leadership Journal. For more information, visit www.MLCouncil.com. Frost & Sullivan, the Growth Partnership Company, works in collaboration with clients to leverage visionary innovation that addresses the global challenges and related growth opportunities that will make or break today's market participants. For more than 50 years, the company has been developing growth strategies for the global 1000, emerging businesses, the public sector and the investment community. Learn more about Frost & Sullivan at www.frost.com.

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