Company Overview of CGC Inc.
CGC Inc. manufactures, distributes, and markets gypsum wallboards, joint compounds, gypsum products, ceiling tiles, and grids in Canada. It offers ceiling panels, grid and suspension systems, integrated ceiling systems, specialty and decorative ceiling systems, and wallboards; and finishing, surfacing, wall prep, sheathing, roofing, structural, performance flooring, tile and flooring installation, and industrial and specialty products. The company also provides acoustics, fire performance, moisture and mould, seismic, abuse resistance, and structural solutions. Its products are used in sports complexes, suites, and other projects. The company offers its products through retailers and distrib...
350 Burnhamthorpe Road West
Mississauga, ON L5B 3J1
Founded in 1907
Key Executives for CGC Inc.
Chief Financial Officer, Vice President, Treasurer and Director
Director, Chairman of USG Corporation, CEO of USG Corporation and President of USG Corporation
Vice President of Finance and Secretary
Compensation as of Fiscal Year 2017.
CGC Inc. Key Developments
USG Corporation and CGC Inc. Enter into the Fifth Amendment and Restatement Agreement to the Credit Agreement
May 1 17
On May 1, 2017, USG Corporation entered into the Fifth Amendment and Restatement Agreement, among the company, certain of the company's wholly-owned domestic and Canadian subsidiaries, JPMorgan Chase Bank, N.A., as administrative agent (in such capacity, the Administrative Agent), and as an issuing bank, JPMorgan Chase Bank, N.A., Toronto Branch, as Canadian agent, and the lenders party thereto (including as issuing banks), pursuant to which, among other things, (1) the company's Fourth Amended and Restated Credit Agreement, dated as of October 22, 2014 (as amended (x) pursuant to that certain letter agreement dated as of December 13, 2016 to reduce the maximum borrowing limit thereunder from $450 million to $180 million and (y) by that certain Amendment No. 1 thereto dated as of January 27, 2017 to amend certain covenant trigger thresholds (each as previously disclosed), the Existing Credit Agreement), was amended and restated in its entirety as the Fifth Amended and Restated Credit Agreement, dated as of May 1, 2017 (the Restated Credit Agreement), among the company, as the U.S. Borrower, CGC Inc., a New Brunswick corporation and wholly-owned indirect subsidiary of the company, as the Canadian Borrower, the Administrative Agent, the Canadian Agent, the lenders and issuing banks party thereto and Bank of America, N.A. and Wells Fargo Bank, National Association, as co-syndication agents and (2) certain provisions of (x) that certain Amended and Restated Guarantee Agreement dated as of October 22, 2014 (the Existing Guarantee Agreement), among the company, the Canadian Borrower, the U.S. subsidiaries of the company identified therein (the U.S. Guarantors) and the Canadian subsidiaries of the company identified therein (the Canadian Guarantors) and the Administrative Agent and (y) that certain U.S. Pledge and Security Agreement dated as of January 7, 2009 (as amended as of October 22, 2014, and as further amended, supplemented or otherwise modified prior to the date hereof, the Existing U.S. Security Agreement) among the company, the U.S. Guarantors party thereto and the Administrative Agent, in each case, are amended as provided therein and such agreements, as so amended, are ratified and reaffirmed by the parties thereto. Pursuant to the Restated Credit Agreement, the Lenders agree (subject to the terms thereof) to make available to the company a revolving line of credit up to a maximum borrowing limit of $220 million (up from $180 million under the Existing Credit Agreement) at any time outstanding (including a $50 million borrowing sublimit for the Canadian Borrower).
USG Corporation and CGC Inc. Enter Amendment No. 1 to its Existing Fourth Amended and Restated Credit Agreement
Feb 1 17
On January 27, 2017, USG Corporation entered into Amendment No. 1 to its existing Fourth Amended and Restated Credit Agreement, dated as of October 22, 2014, among USG and CGC Inc., as borrowers, JPMorgan Chase Bank, N.A. and JP Morgan Chase Bank, N.A., Toronto Branch, as administrative agents, the lenders and issuing banks party thereto and Bank of America, N.A. and Wells Fargo Bank, N.A., as co-syndication agents. The amendment, among other things, proportionally decreased certain thresholds in the definitions of Payment Conditions and Threshold Amount in order to allow USG greater flexibility in complying with the covenants contained in the Credit Agreement in the future. The decreased thresholds follow USG's reduction of the maximum borrowing limit under the Credit Agreement from $450 million to $180 million in December 2016, which was implemented due to lower borrowing availability under the Credit Agreement as a result of the sale of L&W Supply Corporation in the fourth quarter of 2016. The sale of L&W Supply Corporation significantly reduced USG's receivables and inventory, and thus borrowing base, under the Credit Agreement.
CGC Inc Introduces New Structural Solutions Portfolio
Dec 3 15
CGC Inc. announced the introduction of its newest product portfolio: CGC Structural Solutions. The CGC Structural Panel Concrete Subfloor and the CGC Structural Panel Concrete Roof Deck are the first products in the portfolio. From mezzanines and mid-rises, to platforms and roof decks, CGC Structural Panels provide the versatility of wood sheathing and are the only noncombustible structural cementitious panels listed by Underwriters Laboratories Inc. (UL). In addition, the expanded distribution network increases the availability of the CGC Structural Solutions portfolio, ultimately making it easier to get the product to the jobsite. The new CGC Structural Solutions portfolio, and the rebranding of CGC Structo-Crete Structural Concrete Panel, better position the products to meet industry demands for noncombustible structural panels. When compared to poured concrete decks, structural engineers will find that CGC Structural Panels can significantly reduce design loads, thus reducing overall building costs. Both of the initial products in the portfolio offer the following benefits: Creation of one- and two-hour fire-rated assemblies. Strong, durable and dimensionally stable. No buckling or warping like wood sheathing. Quick, easy and dry installation. Fits in a standard elevator.
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