USG Corp. said its L&W Supply distribution unit would shut eight distribution branches and its Nevada custom door and frames business by the end of the third quarter, as it continues to be hit by a weak U.S. housing and construction market.
The company said it would take a charge of about $7 to $8 million in the current and future quarters. It also expects a cash expense of about $6 to $7 million in relation to the closures.
L&W Supply to Close Nine Locations
September 13, 2011