Document v6Bm6Ekgeb74mRnJkyNngq8R9

FILE NAME: National Gypsum (NG) DATE: 1982 DOC#: NG025 DOCUMENT DESCRIPTION: Entry in Moody's Industrial Manual MOODTS INDUSTRIAL MANUAL 4103 NATIONAL GYPSUM COMPANY CAPITAL STRUCTURE * Times ^HGTEgMDEBT - V ' ^ Amount Charges Earned Interest Call . Price Range I Prom jy notes.................................. ;................... Outstanding [1882,500,000 1981 1980 Dates Price 1981 1980 2. }, OCothmemr e..r..c..i.a..l..P...a..p..e..r............................................................................................................. 49,014,000 60,000,000 3.5 10.4 CAPITAL STOCK ^ Issue , Par Value Amount Outstanding Earned Per Sh. 1981 1980 Divs. Per Sh. . 1981 1980 Call Price Price Range ' 1981 1980 I. Common..................................................... <0.50 mi6,108,295 shs. [TJBased on avg. shs. as reported by Co. 1980 restated tolnclude operations 41 [Q83.66 81.48 81.48 31/s- 18% 26 - 16% Cement Division a s continuing operations. [^[Excluding current maturities. H19I2ISn6TcaOocRrqpYuoirraetdeddeipnoDsietslaowf agrye pAsuumg . 2n9e,ar19B2u5.f In fa- lo N .Y ., and in 1927 acquired g y p su m lands in Iosco County, Mich. Plants were erected at both sites. Since that time, Com pany has m a terially broadened its scope of operations through internal development and acquisition of existing businesses. In 1934, purch ased for cash, plan t of K a l man Steel Corp. at Niles, Ohio, a subsidiary of Bethlehem Steel Corp., for manufacture of metal lath. On Dec. 30, 1935, acquired fo r stock, busi ness and properties of Universal G ypsum & Lime Co., which had six m anufacturing plants and gypsum and lime raw m aterial resources. On Sept. 1, 1936, acquired for stock, busi- ness and properties of Atlantic G ypsum Prod- nets Co., operatin g two m anufacturing plan ts and having su b stan tial gy p su m deposits in Canada. During 1937 acquired land an d buildings at Mobile, Ala., from General C able Corp., for cash, which w as remodeled and expanded to manufacture wood fibre products. In Mfg. 1941, a sse ts of G eneral Co. of Alexandria, Ind. In su lattaiucnMqgfui*arnedd' for cash and stock. Co. operated under contract for U .S. Govt, ammunition plants at M cGregor, T ex. (1942* 46); W ahoo, N eb. (1951-56) an d Parson s, Kans. (1951-57 and 1968-70). All contracts are presently terminated. In D ec. 1944, acquired Rim ballton Lim e Co., Shaw sville, V a., for cash an d stock. On Ja n . 1, 1947, p a p e r mill properties of Western B o a rd & P aper Co. a t K alam azoo, Mich., w as acquired. In M ay of 1951, purchased N atio n al M ortar & Supply Co. (P a.), with a lime plant a t Gib- sonburg, O. for stock. In 1953, acquired for stock. Sm ith A sbestos Products, Inc. (N .Y .), and Asbestone Corp. (La.). In Oct. 1957, p u rch ased a sse ts of Connecti cut A dam an t P laste r Co., N ew H aven , for cash. D Co.. uring Inc. a 1958-59, m anufa Am ctur e e r r ic o a f n g lEa z_n_ec_da_uc_se_tr_ia_cm__Ti_ci_l it_nilge products w as acq uired for stock. In 1959 ac- quireda oOileeaan Tmile uCo . an da M u rray T iule Co. for stock and the three w erco n so lid ate d and op- er&te to d ay a s a sub sid iary . A lso in M a y of 1959, acquired H u ro n Portlan d Cem ent Co., lor stock (now o perated a s a division). In M ar. I960, acquired for stock, Union Gypsum Co., of Phoenix, Ariz. In 1960, acq uired Allentown Portlan d Ce ment Co., for stock , which w as m erged in 1962 (now o perated a s a division). In 1963, pu rch ased for cash, T ectum Corp. Of Colum bus, O. In N ov. 1966, Am erican Olean T ile C o. Inc., subsidiary, acquired for cash, Pomona Tile Manufacturing Co. 1968, acquired for stock, M ulticolor npea^ItnisobnJjarmn8.2i1t1s.9148m01%_i-lcl-oi-oo-mw-n-mp,-aendyFirnecnrceah1sG"edy pistsumpa`brtuicsii'-'In M ' ' ar. 1981' , sol'd' asbestos cement products plant in New Orleans, Louisiana. In A pr. 1981, sold three m obile hom e m an u facturing plants in K an sas and M innesota. In Ort. 1981, acquired P an Am erican Win- dow s of M iam__i,_F__la_._,_a__m__a_n_u__fa__c_tu__r_e_r_a_n__d dia tributor of aluminum windows and doors. SUBSIDIARIES American-OIean Tile Co., Inc. (N .Y .) Newfoundland Minerals, Ltd. (Can.) Biscayne Decorative Products, Inc. (DeL) Binswanger G lass Co. (Va.) N ational G ypsum Energy Co. (D el.) BUSINESS N ational G ypsum is prim arily' engaged in the manufacture and sale of products for the building and construction industry. G ypsum & R elated P roducts: G old ]B on d Building P roducts D ivision m anufactures gypsum wallboards, lath, sheathing and plaster; joint cement com pounds and lin er-board paper. W all & Flo or C overing s: The W allcovering Division m anufactures wallcovering and related decorating products. Products include printed and em bossed deco rattiv ev fabric- a' rn~1dt 4p--a8p^ e* r-b acikfcevld* v- in yl w" WalUl4c.Wovv - ering and pressure sensitive decorative vinyl; wa--c-ar-sy-hliiasc.bl--we,alivliic-n-o-yv--le--rci2o-n-ag-t-se-;--d pwrinaltlJepdapfearbraincsd. vinylProd ucts are sold under names " Stvle-Tex" and " Thom as Strahan" (wallcoverings), " H un tington" (decorative-fabrics) and " M agic Cov er" (pressure-sensitive vinyls). American Olean Tile Com pany, m anufac turer of ceramic tile, produces all three basic types of tile: glazed, unglazed ceram ic m osaic, and quarry. Biscayne Decorative Products, Inc. m anu factures vinyl resilient floor coverings. GT__lha_es_s_BA__iMn_sewta_ah_nge_r__G__l_a_ss D iv_is_i_o_n__i_n_c_l_u_d_e_s Binswanger G lass Co., Binswanger M irror and G lasscraft Products. T h e DE ivision in stalls an d distributes virtually every type of glass used in the buildin_g an d consttrnucti*on an<id autom o- tive glass replacement m arkets. Seventy-six distribution centers are located throughout the South and Southwest. It fabricates mirrors and thick glass for furniture and architectural applications. ' T h e Binnin's D ivision produces a wide v a riety of aluminum windows, doors, bath en closures and related products for the residen tial, light commercial and remodeling m ar kets. & > sclalty & O ther P roducts: Gold Bon PROPERTIES G ypsum a, Related P roducts: Co.'s gypsum mines and quarries and its manufacturing plants for gypsum wallboaro products are located at Phoenix and Winkel- . Aria.; Long Beach and Richmond, Cai.; T a m p a , Kla.; ^Savannah, G e.; W aukegan, Til more M d.| National City an dPrawLaaa.; BaltiMich.; These facilities and plants are owned in fee except for dock and unloading facilities at B al timore and the plant sites at Long Beach, Tam pa, W aukegan and Westwego. Co. owns or controls under long-term leases gypsum mines and quarries in U .S. which are estim ated to contain ap pro x. 267 million ton s of gypsum. Co. ow ns ab o u t 1,000 acres of land estim at ed to contain in excess of 350 million tons of gypsum a t E ast Milford, N ova Scotia. It also holds m ineral rights in ab out 5,000 acres of contiguous or nearby lands where the pres ence of large gypsum deposits has been prov en by diam ond drilling but which have not been adequately outlined to permit accurate estim ates of tonnage. Co. also owns about 60 acres an d leases ab ou t 100 acres on tidew ater at Bedford Basin near Halifax, where its docks and loading facilities are located. Co. ow ns m ills prodOuu< c*m gpaper for g y psu m bw oWa4rUd waWt *A nI InI HiisMtoVnI I,, iA`l k'I Hui:, K^ kamlaim. 1 1a1z9oVo , XM.l iHcihll.;, Stockton, Cal.; Milton, Pa. and Pryor, Okla. w1,i1t0h0 taonds aoiflypacpaepr.acity aggregating ap pro x. W all A F lo o r C overings: Co. manufactures glazed te at Lansdale, Pa. and Jackson, Tenn.; unglazed ceramic m o saic tile at Olean, N .Y .; and quarry tile prod ucts at Lewisport and Qoverport, Ky., Rose ville, Cal., an a a t Quakertown, Pa., and F ay ette, Ala.; and resilient floor coverings at M i ami, F L . Co. owns or controls under a long term lease, pyrophyllite reserves sufficient to support its d a y manufacturing operations j Pf ar1cetsue rnets le v e l s for approx. 75 r an a vinyl years. Co. manu wallcoverings at H atfield , coordi- " J*1fab n ca a t L i e n e e , M A. G la s s A M etal P roducts Plants are located at Grenada, M iss., Chan dler, Ariz. M ajor warehouse and distribution cKeinchtemrson"fioidr, Co.'s V a., G lass Division are located in Memphis, Tenn. and H ous ton, .Tex. T h is D ivision operates 74 retail and wholesale outlets for glass and millwork prod ucts throughout the South and Southwest. Fifty-five of these locations are leased preanis es. 1 Co. m anufactures aluminium prim e and storm windows and doors at Lexington, N C, Miami, Fla. and Houston, T X . S p ecia lty A O ther Products: Acoustical and ceiling tiles and planks are ' ` .......................... bile, Ala. accessories fabri- M subisidiary). Also in 1969 acquired 699,900 (25% ) sh ares , B H. Robertson Co. common stock (sold on tin' Feb1.971897f0o,ra*c2q3u.7i9re6d,0H00a)m. ilton of Indiana, me., for stock . . Ut^itEvtu'clh.^faoVr,sto.cakic.*quired.D M H C orp. St. .Lou- 1 sold operating assets of National .. i * t O S M ines L im ited, term inating coxnpa- s participation in A sbestos mining indus- InJr !974 acquired Binning's, Inc., Lex- "V pn, N.C., thru an exchange o f com. stk. r- irJ J uly 1974, C o. acquired T h o m a s Strahan `or com. stk. trin 1976, Am erican-OIean T ile Co., f tr ,8ut>sdiary. sold its Pom ona, Cal. glazed- a 1to Pacific Holding Co. Afi" 1977 form ed N ation al G y p su m En- S ? * Co. to participate on a joint venture ba- r*s o u r c S >^ra ^ on anc* developm ent of energy (hL*L 1978, acquired D ow dflor Corp. t*. ^ rsc a y n e D ecorative P roducts, Inc.) ftnf.r,~:o v - 1978, acquired the polyvinyl siding of e lle r I'roducts, Inc, S f * - 19? 0 B insw anger G la ss Co., subsidi- t * lts H am ilton at Indiana, Inc. subsidi- Im tH am ilton G la ss Products, dpt? ft3 ?`_,1981, acquired the alum inium win- & 2,7 7 ? d o o r o peratio n s of C lark Aluminium * Houston, Texas. Cement: fulNl laitnieo noaf lPGorytplasnudmn a'snCd emmaesnotnDryivciesimonenstesllusna der the "Huron" and "Allentown" brand nam es in separate m arket areas from North D akota to Central New Y ork State and along TtihwheeE YCa seetmmCeeonnati stlDyfiirvvoiumsiiouCnnonsseenrrevvceestiscuGvt irteeoaaVti irLlgsaienkcieas, m arket areas efficiently with its own fleet of AR!f.nnlnnH{mr Kullr rarffn ahtTM Uyjpsiuumm f&l Related 1981 01980 01979 36% 36% 38% Cement........... 13 15 16 Wall & Floor Covering .. 17 15 14 Glass & Metal Prod. i,V v k .. 21 20 18 Other rro a............... 13 14 14 Hikestate to include operations erf Cement Divi sion as continuing operations. O ther B usinesses: Energy--Current share of reserves at Dec. 31, 1981 exceeds 24 billion cubic feet and reve nues from sales continues to increase. These revenues are reported in the specialty and other segment of business. French G ypsum Venture--Sales of venture could exceed $160 million in 1981 with in creased share of profits. . _ and plant lo cated at Y ork. Pa. and a limestone mine and plant at Kimballton, Va. These mines and quarries contain limestone reserves estimated to be approx. 9.9 million tons. Vinyl exterior siding manufactured at M an chester, N ew H am pshire plant. Cem ent Co. ow ns a mill at Alpena, Mich., with ca pacity to produce 2.5 million tons of various types of Portland and m asonry cement annu ally, and nearby limestone reserves sufficient to support present operations for approxi m ately 100 y ears. Co. also owns a cement mill at Evansville, Pa. with an annual capacity of 935,000 tons and reserves of limestone sufficient to supply present capacities for approx. 25 years. T o serve this marketing area, it operates storage and distribution facilities at Haven, Conn.; Bowie, M d. and Jersey City, N .J. MANAGEMENT O ffice rs R .E . Safres.C h m n . and Chief Exec. Off. J.P . H ayes, Pres. & Chief Oper. Off. C.R. M organ, Senior Vice-Pres.--Fin. Admin. E .J. Killian, Group Vice-Pres. - T.W . Ferguson, Jr., Group Vice-Pres. J.A . Keller, Group Vice-Pres, E.W . Fordyce, Jr., Vice-Pres., Gen. Counsel & R .E . Swanson, Vice-Pres.--Fin. & Treaa. J.C . Quinly, Vice-Pres.--In t'i. Oper.