CHICAGO--(BUSINESS WIRE)--Nov. 30, 2017--
USG Corporation (NYSE:USG) today announced the completion of its
previously announced acquisition of Ceilings Plus, a leading
manufacturer of specialty ceilings products. USG paid $52 million in
cash, on a cash-free and debt-free basis.
Ceilings Plus employs more than 150 people at two facilities in
California and Georgia. Ceilings Plus is expected to generate 2017 sales
in excess of $45 million. Founder and president Nancy Mercolino will
lead the USG Ceilings Plus business and be based in Los Angeles.
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.
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 expected sales of Ceilings Plus. 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. Actual results may differ materially
due to various other factors, including: the satisfaction of the
conditions to closing and Ceilings Plus and USG having the ability to
consummate the transaction. We assume no obligation to update any
forward-looking information contained in this press release. Additional
information concerning these and other risks and uncertainties affecting
USG 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.
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Source: USG Corporation
Kathleen Prause, 312-436-6607