Business Context and Reporting Period
Company: James Hardie Industries Plc (James Hardie Industries SE)
Filing Type: Form 6-K (Report of Foreign Private Issuer)
Reporting Period: Month of September 2011
Filing Date: September 22, 2011
Principal Executive Offices: Dublin 2, Ireland
This filing serves as a cover document for the submission of "US tour presentations" (Exhibit 99.1). The registrant files annual reports on Form 20-F.
Key Financial Metrics
The filing text does not provide specific financial data. No values are disclosed for revenue, profit, cash flow, margins, debt, or liquidity within this document.
Material Changes
The filing text does not provide specific operational or financial comparisons to prior periods. The document focuses on legal disclosures regarding forward-looking statements rather than reporting specific period-over-period changes.
Guidance, Outlook, Risks, and Contingencies
Forward-Looking Statements: The filing contains a comprehensive Safe Harbor Statement identifying numerous forward-looking statements regarding future performance, strategies, and financial conditions. These are qualified by inherent risks and uncertainties.
Key Risks and Contingencies Identified:
- Asbestos Liabilities: Risks related to prior asbestos product manufacture, required contributions to the Asbestos Injuries Compensation Fund (AICF), potential shortfalls in the AICF, and currency exchange impacts on asbestos liabilities.
- Legal Proceedings: Potential consequences of proceedings by the Australian Securities and Investments Commission (ASIC) against the company and former directors/officers.
- Corporate Domicile: Risks associated with the transfer of corporate domicile from The Netherlands to Ireland, including employee relations, governance changes, and tax implications.
- Market and Economic Factors: Dependence on residential and commercial construction markets, housing recovery levels, mortgage availability, interest rates, and consumer confidence.
- Operational Risks: Raw material costs, competition, product failures, environmental liabilities, and the ability to renew credit facilities.
Investor Verification Checklist
- Review the attached "US tour presentations" (Exhibit 99.1) for specific financial guidance and operational updates not contained in this cover letter.
- Verify the current status and funding levels of the Asbestos Injuries Compensation Fund (AICF) and any recent ASIC proceedings.
- Assess the impact of the corporate domicile transfer to Ireland on tax liabilities and employee relations.
- Monitor housing market indicators and construction levels in the company's primary operating regions.
- Check the status of credit facility renewals and terms.