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Manufacturing company
"United States Gypsum" redirects here. Not to be confused with National Gypsum.
USG Corporation
Company type
Private
Industry
Building materials
Founded
1901; 123 years ago (1901)
Headquarters
Chicago, Illinois
,
United States
Key people
Christopher R. Griffin (President & CEO)
Products
Gypsum, drywall, joint compound, dropped ceiling
Revenue
US$3.03 billion (2016)
Operating income
US$374 million (2016)
Net income
US$510 million (2016)
Total assets
US$3.87 billion (2016)
Total equity
US$1.89 billion (2016)
Number of employees
6,800[1] (2017)
Parent
Knauf
Website
www.usg.com
USG Corporation, also known as United States Gypsum Corporation, is an American company which manufactures construction materials, most notably drywall and joint compound. The company is the largest distributor of wallboard in the United States and the largest manufacturer of gypsum products in North America. It is also a major consumer of synthetic gypsum, a byproduct of flue-gas desulfurization. Its corporate offices are located at 550 West Adams Street in Chicago, Illinois.
Together with other construction products, USG's most significant brands are:[2]
Sheetrock Brand Gypsum Panels[3]
Securock Brand Glass-Mat Sheathing[4]
Sheetrock Brand All Purpose Joint Compound[5]
In December 2013, Warren Buffett's Berkshire Hathaway became the largest shareholder in the company (holding roughly 30%) when it converted USG convertible notes it had acquired in 2008 to common stock.[6]
In June 2018, USG entered into an agreement to be purchased by the privately-held building materials company Knauf. It operates as an independent subsidiary of Knauf and continues to remain headquartered in Chicago, Illinois. [7] The deal closed in April 2019.[8]
In 2020, it was referenced in the movie Nomadland.[9]
^"USG". Fortune. Archived from the original on 2019-06-30. Retrieved 2019-02-28.
^"Sheetrock® Brand All Purpose Joint Compound". USG. Retrieved 2018-06-27.
^"Berkshire Hathaway agrees to pay $896,000 civil penalty". Big News Network.com. 20 August 2014. Retrieved 20 August 2014.
^"Knauf and USG Agree to Transaction at $44 Per Share in Cash" (Press release). Iphofen, Germany and Chicago: Knauf/USG. Business Wire. June 11, 2018.
^"Knauf Completes Acquisition of USG Corporation" (Press release). Iphofen, Germany and Chicago: Knauf/USG. Business Wire. April 24, 2019.
^"The true story of Empire, Nevada, the tiny desert town from 'Nomadland' that shut down in 2011, forcing all of its residents out". ca.finance.yahoo.com. 23 April 2021. Retrieved 2021-05-16.
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Global Information
US$3.03 billion (2016)