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Building Supplies Maker USG to Restructure: Faced with a...

January 01, 1991|From Times Staff and Wire Reports

Building Supplies Maker USG to Restructure: Faced with a weak construction market, Chicago-based USG has developed a plan to restructure its debt. It will issue new stock, put a unit on the auction block, extend its debt repayment schedule and offer to swap debt for stock. Weakened 2 1/2 years ago by a costly defense against a hostile takeover attempt, USG lost $11 million in the third quarter on sales of $538 million.

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