Corning (GLW) Stock Surges as UBS Lifts Price Target to $160 on AI-Driven Fiber Optic Demand 
Moncler Shares Surge on Strong Q4 Revenue Growth and Robust China Demand 
Airbus Cuts Jet Production Target Amid Pratt & Whitney Engine Shortages, Q4 Profit Jumps 17% 
PacifiCorp to Pay $575 Million in Wildfire Settlement With U.S. Government 
Microsoft Gaming Leadership Overhaul: Phil Spencer Retires, Asha Sharma Named New Xbox CEO 
Amazon Surpasses Walmart in Annual Revenue, Signaling a New Era in Retail Competition 
Mark Zuckerberg Testifies in Youth Social Media Addiction Trial Over Instagram Policies 
Bill Gates Pulls Out of India’s AI Impact Summit Amid Controversy and Event Mismanagement 
Alibaba, Baidu, BYD Shares Slide After Pentagon Military List Update 
JPMorgan Closes Trump Accounts as $5 Billion Lawsuit Moves to New York 
OpenAI Targets $600B Compute Spend as IPO Valuation Could Reach $1 Trillion 
Vanda Pharmaceuticals (VNDA) Stock Soars After FDA Approves BYSANTI for Bipolar I and Schizophrenia 
Vietnam Airlines, Vietjet, and Sun PhuQuoc Airways Sign Major Boeing Aircraft Deals Amid U.S.–Vietnam Trade Talks 
OpenAI Nears $100 Billion Funding Round at $850 Billion Valuation: Bloomberg Report 
Honeywell Reconsiders $2.4 Billion Johnson Matthey Catalyst Technologies Acquisition 
For Immediate Release
|
|||
National Gypsum to Reopen Wilmington Gypsum Board Plant
(Charlotte, NC – May 8, 2018) National Gypsum Company announced today it will reopen its Wilmington, NC, plant which was idled in 2009 during the historic housing industry downturn and national recession. The company plans to spend $25 million over five years to upgrade existing machinery and install new equipment. Over the next few months, National Gypsum will begin hiring and training new associates to supervise and operate the facility.
The plant will produce gypsum board used in home construction and commercial projects. It will receive gypsum rock, its primary raw material, from the company’s Halifax, NS, quarry.
“We expect to have the plant operational by the end of the year,” said CEO Tom Nelson. “Wilmington will allow us to better respond to customer demand as the construction industry continues to build momentum. This plant also will help us grow our specialty gypsum board business which includes our successful family of PURPLE® mold- and moisture-resistant products.
“We are grateful to Wilmington Business Development, New Hanover County Commission, and Wilmington City Council for their leadership and guidance in this significant endeavor. We also thank the North Carolina Railroad Company, the North Carolina Department of Transportation, and Duke Energy for their support for this project. They have welcomed us back to Wilmington. In turn, we will not only increase the community’s tax base and employ local citizens, but we also intend to be a good corporate citizen, as we were when the plant previously operated between 1979 and 2009.”
In addition to the upgrades, the company plans to build a rail spur into the plant, further expanding its ability to reach customers, many of whom prefer rail deliveries.
“It has been our great pleasure to work with the National Gypsum team,” said Scott Satterfield, Wilmington Business Development CEO. “The company’s willingness to invest significantly in its Wilmington facility says all the right things about our great area.”
In 2006, the Wilmington Plant earned IndustryWeek Magazine’s Best Manufacturing Plants Award. It was one of 10 North American plants receiving the award that year. The award was based on the plant’s efficiency, productivity, manufacturing process, quality, safety, and community service.
####
About National Gypsum
National Gypsum Company, headquartered in Charlotte, NC, is a leading supplier of gypsum board, interior finishing products and cement board to the construction industry. It has a network of 40 facilities in North America. The company’s leading brands are: Gold Bond®, ProForm®, PermaBase®, and DEXcell®.
Nancy Spurlock National Gypsum Company 704-365-7556 [email protected]
