Business Context and Reporting Period
This Form 6-K filing by James Hardie Industries N.V. (James Hardie) covers the month of February 2008. The report was filed on February 5, 2008, and primarily serves to disclose corporate governance changes and provide a safe harbor statement regarding forward-looking information.
Financial Metrics
The filing text does not provide specific values for revenue, profit, cash flow, margins, debt, or liquidity. This document is a notification of board changes and does not contain a financial results summary or audited financial statements.
Material Changes
- Board Composition: The company announced the appointment of a new chairman. This announcement was originally filed with the Australian Stock Exchange on February 1, 2008.
Guidance, Outlook, and Risks
The filing includes a comprehensive Safe Harbor Statement identifying forward-looking statements and associated risks. Key areas of uncertainty and risk highlighted include:
- Asbestos Liabilities: Expectations regarding the timing and amount of payments to the Asbestos Injuries Compensation Fund (AICF) and the impact of foreign exchange on asbestos provisions.
- Legal Proceedings: Potential consequences of proceedings brought by the Australian Securities & Investments Commission against the company and former directors.
- Operational and Market Risks: Competition, product pricing, raw material costs, environmental liabilities, and the success of research and development.
- Financial Risks: The extension or renewal of credit facilities and general economic conditions.
Key Facts for Investor Verification
- Verify the identity and background of the newly appointed chairman referenced in Exhibit 99.1.
- Review the company's most recent Form 20-F (filed July 6, 2007) for detailed financial data and a full list of risk factors.
- Monitor updates regarding the Asbestos Injuries Compensation Fund (AICF) payment schedules and legal proceedings with the Australian Securities & Investments Commission.
- Confirm the status of credit facility renewals as noted in the forward-looking statements.