GAF Announces It Will Not Pursue Plan to Build New Asphalt Shingle Plant

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GAF

Jun 04, 2015, 10:00 ET

(PRWEB) June 04, 2015 -- GAF, North America’s largest roofing manufacturer, announced today that it will no longer pursue its plan to build a new asphalt shingle manufacturing facility in Moberly, Missouri due to sluggish market conditions and unanticipated increases in project and operating costs associated with the previously planned facility.

“We thank Governor Nixon and officials from the State of Missouri for their leadership in support of this project. We also thank the people of Moberly and greatly appreciate the strong support for this project which we received from local city officials and the Moberly Area Economic Development Corporation,” said Bob Tafaro, president and chief executive officer of GAF. "Unfortunately, we had to make a difficult business decision as the economics of this investment have been impacted by the sustained sluggish market conditions for asphalt shingles coupled with increased project and operating costs.”

GAF has the largest manufacturing footprint in the industry which will enable it to continue to deliver high-level quality and service to its customers. GAF is undertaking a capital investment plan in certain key existing plants to ensure its manufacturing capability will outpace market demand.

GAF has made significant investments in its infrastructure and capacity in recent years, most recently in Cedar City, Utah, where the company is manufacturing thermoplastic polyolefin (TPO) single-ply membranes and polyisocyanurate (ISO) insulation and is adding a new polyvinyl chloride (PVC) manufacturing line which is expected to be operational by mid-2016. GAF is also continuing to consider locations for an additional plant in the eastern United States that will manufacture PVC, TPO and ISO.

About GAF
Founded in 1886, GAF is the largest roofing manufacturer in North America. The company’s products include a comprehensive portfolio of steep-slope and commercial roofing systems, which are supported by an extensive national network of factory-certified contractors. Its success is driven by its commitment to Advanced Quality, Industry Expertise, and Solutions Made Simple. GAF was the first roofing manufacturer to offer a Lifetime limited warranty on all of its laminated shingles, which then evolved with the introduction of the GAF Lifetime Roofing System by extending the Lifetime coverage beyond just the roofing shingles.

With a focus on social responsibility, GAF has developed Advanced Protection® Shingle Technology, which provides superior durability and wind resistance while reducing the use of scarce natural resources. The company has also developed single-ply and asphaltic membranes with superior durability and high reflectivity to meet the most rigorous industry standards while helping commercial property owners and designers reduce energy consumption.

GAF also supports the roofing industry through CARE, the Center for the Advancement of Roofing Excellence, which has provided education to over 125,000 professionals. CARE’s mission is to help professional contractors and distributors build their businesses through sales and management education, and to provide product and installation training to contractors, distributors, architects, property owners, and related industry personnel. For more information about GAF, visit http://www.gaf.com.

David Silverman, GAF, http://www.gaf.com, +1 973-628-3301, [email protected]