This Day On The Street
Continue to site
This account is pending registration confirmation. Please click on the link within the confirmation email previously sent you to complete registration.
Need a new registration confirmation email? Click here

James Hardie® Awarded Stimulus Package Funds For Fiber Cement Recycling

MISSION VIEJO, Calif., Nov. 29, 2010 /PRNewswire/ -- James Hardie Building Products Inc. (NYSE: JHX) today announced the receipt of a federal grant worth $756,000 to help offset the cost of updating its fiber cement recycling operations in Peru, IL. James Hardie was awarded the grant by the Illinois Department of Commerce and Economic Opportunity (DCEO) as part of the Federal American Recovery and Reinvestment Act of 2009 (ARRA).

The Illinois Department of Commerce and Economic Opportunity (DCEO) administers a portfolio of programs under the State Energy Plan that is designed to invest in the development of Illinois' green economy including renewable energy resources, energy efficiency, green buildings, biofuels and more.  The money received through the 2009 American Recovery and Reinvestment Act allowed DCEO's State Energy Office to develop new programs and expand current programs in order to fund cost-effective energy projects that create and retain Illinois jobs, reduce energy consumption and costs, increase renewable energy capacity, and reduce greenhouse gas emissions.

The grant money will offset the cost of equipping James Hardie's trim manufacturing plant in Peru, IL, with new, more efficient fiber cement recycling machines. The hi-tech new equipment will collect and reclaim off-specification HardieTrim® XLD® boards and fiber cement dust for use in James Hardie's new line of crown mouldings: HardieTrim® Crown Mouldings.

"It's a great example of how sustainability can be good for business," said Tom Jagiella, trim engineering manager at James Hardie. "Sometimes errors occur during the manufacturing process, which result in boards that don't measure up to James Hardie's quality standards. The standard practice within the industry is that off-spec boards are sent to a landfill. With this equipment we're able to convert them into high-quality marketable products." The new equipment will allow James Hardie to improve this process.  

As a new addition to James Hardie's lineup of fiber cement products, HardieTrim® Crown Mouldings represent less than one percent of the output of the Peru, IL, facility and are currently produced using only recycled materials.

" Illinois is a leader in the green energy revolution," said DCEO Director Warren Ribley. "This funding will not only provide a boost to the state's energy efforts during a critical time, but will also create greater opportunities to put more people to work and grow Illinois' economy. Our targeted investments in renewable energy, energy efficiency and green manufacturing will pay dividends for workers today, as well as future generations."

The project qualified for DCEO/ARRA funding in the category of "Recycled Content Products," which is considered part of "Green Industry". The $756,000 grant will cover 50 percent of the $1.5 million projected cost of equipping the facility. The remaining 50 percent will be covered by James Hardie. The State Energy Plan is providing more than $100 million in grants statewide, resulting in more than 12,000 green sector jobs being created over the next two years and leveraging almost $1 billion in investment. More information about the State Energy Plan administered by DCEO's State Energy Office is at

Introduced in 2010, HardieTrim Crown Mouldings can be used in various applications such as, a decorative trim transition from frieze board to soffit, window headers and as a gable trim accent. When using a HardieTrim Crown Moulding with ColorPlus® Technology you will maintain a beautiful consistent, durable color; unmatched by field painting or third party pre-finishers. HardieTrim crown mouldings also come with a 15-year limited, transferable product warranty.

1 of 2

Check Out Our Best Services for Investors

Action Alerts PLUS

Portfolio Manager Jim Cramer and Director of Research Jack Mohr reveal their investment tactics while giving advanced notice before every trade.

Product Features:
  • $2.5+ million portfolio
  • Large-cap and dividend focus
  • Intraday trade alerts from Cramer
Quant Ratings

Access the tool that DOMINATES the Russell 2000 and the S&P 500.

Product Features:
  • Buy, hold, or sell recommendations for over 4,300 stocks
  • Unlimited research reports on your favorite stocks
  • A custom stock screener
Stocks Under $10

David Peltier uncovers low dollar stocks with serious upside potential that are flying under Wall Street's radar.

Product Features:
  • Model portfolio
  • Stocks trading below $10
  • Intraday trade alerts
14-Days Free
Only $9.95
14-Days Free
Dividend Stock Advisor

David Peltier identifies the best of breed dividend stocks that will pay a reliable AND significant income stream.

Product Features:
  • Diversified model portfolio of dividend stocks
  • Updates with exact steps to take - BUY, HOLD, SELL
Trifecta Stocks

Every recommendation goes through 3 layers of intense scrutiny—quantitative, fundamental and technical analysis—to maximize profit potential and minimize risk.

Product Features:
  • Model Portfolio
  • Intra Day Trade alerts
  • Access to Quant Ratings
Real Money

More than 30 investing pros with skin in the game give you actionable insight and investment ideas.

Product Features:
  • Access to Jim Cramer's daily blog
  • Intraday commentary and news
  • Real-time trading forums
Only $49.95
14-Days Free
14-Days Free


Chart of I:DJI
DOW 17,867.61 +147.69 0.83%
S&P 500 2,096.67 +16.26 0.78%
NASDAQ 5,145.4410 +36.7750 0.72%

Free Reports

Top Rated Stocks Top Rated Funds Top Rated ETFs