Quikrete Industry Dashboard
The average price for a gallon of regular gasoline rose to $2.69 on April 13, up about 15 cents from the previous month. Other than that movement, the Quikrete Industry Dashboard experienced a quiet week. On Monday, the Census Bureau will release monthly sales figures for NAICS 444 and 44413. On Tuesday, residential construction statistics will be updated for March.
Warren Buffet leaning toward USG acquisition
While USG’s board of directors has opposed a proposed acquisition by German building materials firm Knauf, the company’s largest shareholder appears to be favoring the move.
Warren Buffet and his Berkshire Hathaway company are planning to vote against four board nominees standing for election at USG’s upcoming annual shareholders meeting. And Buffet is USG’s largest shareholder with a 31% ownership of the Chicago building material manufacturer’s stock.
Last month Knauf proposed a $5.9 bid to buy USG with an offer of $42 per share. The company has since said that shareholders should vote against the board members standing for election in May.
Based in Iphofen, Germany, Knauf manufactures building materials and operates 220 factories worldwide. The company has invested heavily in USG since 2000 and is the company’s second-largest shareholder behind Buffet.
Shares of USG have reached their highest level in more than a year since talk of a acquisition began last month and hovered just below $41.
Trex introduces Protect joist and beam tape
Trex, the composite decking manufacturer, has introduced a new product designed to protect the substructure of decks including joists and beams.
Trex Protect Joist Tape and Beam Tape is a self-adhesive butyl tape designed to protect wooden joists and beams from moisture that can lead to rot, splitting and the loosening of deck screws and fasteners.
“If a homeowner is going to invest in a premium, wood-alternative deck warrantied to last several decades, it’s logical that they would want the substructure to last just as along,” said Dave Kile, North American sales manager for Trex Protect.
Trex Protect shields the tops of joists, rim joists, ledger boards and beams from moisture that leads to decay. It also acts as a barrier between wood and galvanized metal used in construction hardware such as joist hangers.
The product also seals deck fasteners and helps screws hold longer and stronger while preventing moisture penetration and defending against splitting that can result from seasonal freezing and thawing.
Available in two widths – 1-5/8” for joists and 3-1/18” for beams – Trex Protect works on horizontal and vertical surfaces and is applied as a “cap” as opposed to a wrapping, allowing the wood breathe.