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USG expects capital expenditures of $50 million in 2011
By Aleesia Forni
Columbus, Ohio, Sept. 13 - USG Corp. expects capital spending of $50 million during 2011, according to executive vice president and chief financial officer Richard H. Fleming.
As of June 30, the company reported $2.2 billion of long-term debt, with no significant debt maturities until 2014.
Fleming said that "most importantly," almost one third of the company's total debt is callable or convertible.
"Our strategic plan is financial flexibility," Fleming said during the company's presentation at the CL King 9th Annual Best Ideas Conference on Tuesday.
The company recently renewed its revolving credit facility to December 2015, subject to the funding of its 2014 maturity.
USG reported liquidity of $920 million as of June 30.
USG is a Chicago-based manufacturer of construction materials.
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