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USG CORPORATION FORMS JOINT VENTURE WITH SAUDI ARABIAN FIRM

 CHICAGO, Sept. 20 /PRNewswire/ -- USG Corporation (NYSE: USG) today announced the formation of a joint venture between one of its subsidiaries and the principals of Saudi Suspended Ceilings Company (SSCC), for the manufacture and marketing of ceiling products in the growing Middle East construction market.
 Under the agreement, effective Sept. 1, 1993, USG became a substantial equity owner in SSCC, which will be renamed USG Middle East Ltd. The company will continue to manufacture ceiling products at SSCC's existing water-felted mineral fiber ceiling tile plant in Dammam, Saudi Arabia.
 USG also will be participating in a new joint venture company, USG Middle East Trading Ltd., formed with the same partners to market ceilings and other interior products in the region. This will allow USG and SSCC customers continued access to both companies' product lines, in addition to any new product developments created by the joint venture.
 "This joint venture supports USG Corporation's overall mission to become a worldwide ceilings company," commented Bob Dilworth, vice president and managing director, USG International, Ltd. "SSCC is a successful operation and the addition of USG's technical expertise will significantly increase its growth potential."
 "Access to USG's technology will enable us to enhance and expand SSCC's current product line," said Georges Farsoun, general manager, Saudi Suspended Ceiling Company. "The combined efforts of USG and SSCC will allow us to better service the needs of our customers and markets."
 USG Corporation is a Fortune 250 holding company whose subsidiaries are leading manufacturers and distributors of building products including gypsum wallboard, joint compound, acoustical ceiling tile and ceiling suspension systems.
 Saudi Suspended Ceilings Company has been operating since 1986 and is the only manufacturer of mineral fiber ceilings in the Middle East, with markets throughout Saudi Arabia, the Gulf States, Northern Africa and other parts of the region.
 -0- 9/20/93
 /CONTACT: USG corporate communications, 312-606-4124/
 (USG)


CO: USG Corporation; Saudi Suspended Ceilings Company ST: Illinois IN: CST SU: JVN

CK -- NY055 -- 3641 09/20/93 11:45 EDT
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Publication:PR Newswire
Date:Sep 20, 1993
Words:333
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