GAF Won’t Pursue Plan to Build New Asphalt Shingle Plant
PARSIPPANY, N.J. — GAF has announced that it will no longer pursue its plan to build a new asphalt-shingle manufacturing facility in Moberly, Mo., 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 CEO 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 a large 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.
For more information, visit www.gaf.com.