The Company through its subsidiaries is a manufacturer and distributor of building materials, producing a range of products for use in new residential, new nonresidential, and repair & remodel construction, including products used in industrial processes.
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Despite news about a down turn in the new house construction market, paying $900 million into an asbestos litigation trust fund, and filing for bankruptcy five years ago, US Gypsum will be able to turn a profit from the exisiting residential remodeling market as well as the commercial construction market. Emerging from Chapter 11 bankruptcy on July 20,2006 with it's creditors repayed in full is in USG's favor. Having Warren Buffett go on a buying binge in august of 2006 certainly doesn't hurt either!