Hike in drywall costs expected to hammer builders
According to a report in Hanley-Wood’s ProSales Online, USG’s Nov. 3 announcement of a price increase was followed by similar announcements by CertainTeed Corp. in Valley Forge, National Gypsum Co., Lafarge, and Temple-Inland Inc.
USG, which reported $297 million in profit in the boom year of 2006, sustained huge losses in 2010′s first three quarters – including $100 million in the third quarter, reflecting “continued weak market conditions and extraordinarily low shipping volumes,” said chairman and chief executive officer William C. Foote.
In 2009, production of drywall industrywide was almost half that of 2006.
via Hike in drywall costs expected to hammer builders | Philadelphia Inquirer | 11/15/2010.
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