GAF Closing Down One Facility Due To Housing Slump

Ed the Roofer

Housing slump forces closure of Philly roofing plant:

Roofing materials company GAF Materials Corp. says it will close a facility in Richland, Pa., because of the decline in the housing market. GAF, based in Wayne, N.J., is the largest manufacturer of commercial and residential roofing in North America, and the company also is closing a plant in Goldsboro, N.C. www.phillyBurbs.com (1/17)

From the NRCA Smart Briefs e-mail.

Is this a sign of an economic forecast for roofing or due to the recent acquisition/merger with Elk?

What else will the economy do to the suppliers as well as the manufacturers?

How will the recent death of Ken Hendricks, President of ABC Supply affect the largest nation wide roofing supply chain?

In the Chicago market, a 2nd large builder, Kimbel Hill, looks to be heading towards some version of bankruptcy. Others will soon follow.

How can we use these circumstances to our advantage and benefit from the times, instead of suffer the same demise?

Ed

neolitic

Mergers=Closings/Layoffs
Wouldn't read too much into that one.
If there's any thing "recession proof"
I'd think it was roofing.
What can they do?
Sorry I'm too old to do that anymore.

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SelfContract

Big fish eats small fishes... same like all bank mergers news lately. (Big bank buys small bank, BankofAmerica takes over Countrywide, etc.)

RooferJim

It has to do with the ELK merger. those plants were outdated I was told. They are also closing the plant in Millis, Massachusetts. they make the Timbertex there for the whole country but its been a roofing plant since the 1880's.

Ed the Roofer

I agree with you, but that is how it is being reported.

They wish to paint the bleakest picture of the economy, because that sells. Fear is a motivating factor, even to sell newspapers.

Ed