USG to close nine locations
<p class="MsoNormal">USG Corp., a manufacturer of Sheetrock and other building materials, will close eight of its L&W Supply distribution branches by the end of the third quarter, according to an Aug. 25 filing with the Securities and Exchange Commission (SEC). The Chicago–based company will also shutter its Nevada custom door and frame business.</p>
USG Corp., a manufacturer of Sheetrock and other building materials, will close eight of its L&W Supply distribution branches by the end of the third quarter, according to an Aug. 25 filing with the Securities and Exchange Commission (SEC). The Chicago–based company will also shutter its Nevada custom door and frame business.
USG will record charges of approximately $7 million to $8 million in the current and future fiscal quarters related to these closures, the SEC filing said. The company expects to incur cash expenditures of approximately $6 million to $7 million in the current and future fiscal quarters in connection with the closures.
The locations of the L&W Supply branches slated for closure were not revealed.
