GCP will transition to a simpler organizational model, which will reorganize the business regionally to better focus on customers. The Company will also consolidate some offices and manufacturing locations in order to achieve production efficiencies while also improving profitability and driving shareholder value.
“On behalf of the Board and management team, we are excited to open GCP’s new global headquarters in the
GCP expects to achieve pre-tax cost structure savings of approximately
“We are pleased with the progress we are making in the areas related to building organizational capability, stabilizing revenues and driving profitable growth as our Q1 2021 volumes are ahead of expectations with strong demand for our products in March,”
About
GCP is a leading global provider of construction products technologies that include additives for cement and concrete, the VERIFI® in-transit concrete management system, high-performance waterproofing products, and specialty systems. GCP products have been used to build some of the world’s most renowned structures. More information is available at www.gcpat.com.
Forward-Looking Statements
This announcement contains “forward-looking statements,” that is, information related to future, not past, events. Such statements generally include the words “believes,” “plans,” “intends,” “targets,” “will,” “expects,” “estimates”, “suggests,” “anticipates,” “outlook,” “continues,” or similar expressions. Forward-looking statements include, without limitation, statements about expected: financial positions; results of operations; cash flows; financing plans; business strategy; operating plans; strategic alternatives; capital and other expenditures; competitive positions; growth opportunities; benefits from new technology; and cost reduction initiatives. GCP is subject to various risks and uncertainties that could cause its actual results to differ materially from those contained in forward-looking statements, including, without limitation, risks related to: the cyclical and seasonal nature of the industries that GCP serves; foreign operations, especially in emerging regions; changes in currency exchange rates; the cost and availability of raw materials and energy; new product introductions and other growth initiatives; acquisitions and divestitures of assets; GCP’s outstanding indebtedness, including debt covenants and interest rate exposure; GCP’s funded and unfunded pension obligations; warranty and product liability claims; legal proceedings; the inability to establish or maintain certain business relationships, including with customers and suppliers; employee retention; and compliance with environmental laws. These and other factors are identified and described in more detail in GCP’s Annual Report on Form 10-K and Quarterly Reports on Form 10-Q, which have been filed with the
Contact
Investor Relations
+1 617.498.4568
investors@gcpat.com
Media:
GCP-SVC@SARDVERB.com
Source:
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