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RONA announces $125 million share offering

BY HBSDEALER Staff

RONA, one of Canada’s largest chain of home improvement retail outlets, has announced that it will launch an offering of rate reset preferred in partnership with a syndicate of underwriters led by National Bank Financial Inc. and BMO Capital Markets, who are acting as joint book runners.

Under this agreement, the underwriters have agreed to purchase, on a bought-deal basis, 5,000,000 Cumulative 5-Year Rate Reset Series 6 Class A Preferred Shares at a price of $25.00 per share for aggregate gross proceeds to RONA of $125 million.

 

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Green Glue appoints new executive

BY HBSDEALER Staff

Saint-Gobain Performance Plastics (SGPPL) has announced the appointment of Adam Burnett to the position of business development manager, acoustics for the company’s Green Glue Noiseproofing product.

Burnett will be responsible for the production of the Green Glue Noiseproofing System and developing new applications and distribution channels for its technologies.

Prior to joining Acoustics, Burnett worked as production manager and in a Six Sigma Black Belt position at Saint-Gobain’s Granville facility. Before that, he worked at Tyco International as both a mechanical engineer and a plant engineer.

The Green Glue Noiseproofing System offers four technologies that substantially reduce noise transmission between rooms: Green Glue Noiseproofing Compound, Noiseproofing Sealant, Clips and Joist Tape. They can be used in both residential and commercial construction.

Founded in 2003 in Fargo, N.D., and relocated in 2009 to Granville, N.Y., the Green Glue Co. is an R&D and manufacturing firm specializing in viscoelastic materials and is a leading producer of sound isolation products used in residential and commercial noiseproofing. Green Glue Noiseproofing Compound, the company’s first product, is marketed and sold for new construction and remodeling of residential, home theater, recording studio, hospitality and multi-family construction.

The Green Glue Company is wholly owned by Saint-Gobain Performance Plastics Corp. St. Gobain is a global manufacturer of building products with more than 330 locations in North America. Saint-Gobain businesses in North America include CertainTeed in Valley Forge, Pa., and Norandex Building Materials Distribution in Hudson, Ohio. In the United States and Canada, Saint-Gobain reported sales of approximately $6.8 billion in 2009.

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CDC finds no link between drywall, deaths

BY HBSDEALER Staff

The Centers for Disease Control (CDC), in a report provided to the U.S. Consumer Product Safety Commission (CPSC), has found no evidence linking exposure to “problem” drywall and 11 deaths.

The CDC Review summarizes investigations by state public health authorities of the available medical records of 11 people who died and had previously lived in or visited homes reported to contain tainted or toxic drywall. State public health authorities concluded that the drywall was not a factor in the deaths. The CDC review was limited to the 11 deceased individuals. 

The CPSC is in the final stages of completing its scientific investigation into problem drywall. As part of this process, CPSC has requested that the CDC consider undertaking a comprehensive study of any possible long-term health effects.

The CPSC has received approximately 3,794 reports from residents in 42 States, the District of Columbia, American Samoa and Puerto Rico, who believe their health symptoms or the corrosion of certain metal components in their homes are related to drywall that was either imported from China or, in some cases, manufactured in the United States. State and local authorities have also received similar reports.

For additional findings from the Interagency Drywall Task Force’s investigation, visit DrywallResponse.gov.

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