USG Corporation Announces a Joint Venture in China to Manufacture and Market Ceiling Tiles and Grid Systems.CHICAGO -- USG Corporation USG Corporation (NYSE: USG), also known as United States Gypsum Corporation, is a Fortune 500 (rank 396 in 2007)[1] company that manufactures construction materials. USG Corporation was organized on January 1 1985 as the holding company of its subsidiaries. (NYSE NYSE See: New York Stock Exchange :USG (UNIX Systems Group) The division within Novell that was responsible for UnixWare. See USL. ), today announced that it has entered into a joint venture agreement with a leading Chinese building materials Building materials used in the construction industry to create . These categories of materials and products are used by and construction project managers to specify the materials and methods used for . company to manufacture a complete line of acoustical ceiling tiles and grid systems in China. USG's partner in this venture is BBMG Corporation, formerly known as Beijing Building Materials Group, the sole parent of Beijing Star Building Materials Company, a leading mineral fiber tile producer in China, with net sales Net Sales The amount a seller receives from the buyer after costs associated with the sale are deducted. Notes: This amount is calculated by subtracting the following items from gross sales: merchandise returned for credit, allowances for damaged or missing goods, freight of $1.3 billion, employing 20,000 in China. "We're very pleased to expand our presence in the world's fastest growing market by partnering with a leader in the Chinese building materials industry," said Edward M. Bosowski, Executive Vice President, USG Corporation and President of USG International. "USG is bringing technology and manufacturing expertise, an export sales network and superior grid products manufactured in southern China. BBMG-Star will contribute a leading regional market position in northern China, well established local distribution channels and strong customer relationships." "BBMG is pleased to join with USG in offering a new comprehensive line of ceiling products to both Chinese and other Asian builders," said Mr. Wang Dong Wang Dong (Chinese:王栋) is a Chinese football player who currently plays for Changchun Yatai. He was born in Qingdao, Shandong Province, China. He recently scored two of China's five goals in a 5-1 victory over Malaysia. He is also famously known for having two penises. , Chairman of BBMG Corporation. "We have more than 20 years experience in commercial ceiling products and by partnering with one of the industry leaders in ceilings we expect to gain a greater share of both the Chinese and other Asian markets." Bosowski went on to say that the current Chinese acoustical ceiling tile market is growing about ten percent annually. The new joint venture will be utilizing state-of-the-art manufacturing process technologies to provide competitive, high quality ceiling systems to the Chinese market. The joint venture will also export ceilings products to other Asian markets through USG's export sales distribution network. USG Corporation is a Fortune 500 manufacturer and distributor of high-performance building systems through its United States Gypsum gypsum (jĭp`səm), mineral composed of calcium sulfate (calcium, sulfur, and oxygen) with two molecules of water, CaSO4·2H2O. It is the most common sulfate mineral, occurring in many places in a variety of forms. Company, USG Interiors, Inc., and L&W Supply Corporation subsidiaries. Headquartered in Chicago, the company serves the residential and non-residential construction markets, repair and remodel re·mod·el tr.v. re·mod·eled also re·mod·elled, re·mod·el·ing also re·mod·el·ling, re·mod·els also re·mod·els To make over in structure or style; reconstruct. construction markets, and industrial processes. USG's wall, ceiling, flooring and roofing products provide leading-edge building solutions for customers, while L&W Supply center locations efficiently stock and deliver building materials nationwide. For additional information, visit the USG website at www.usg.com |
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