Business Context and Reporting Period
This Form 6-K filing by James Hardie Industries N.V. (James Hardie) was submitted to the U.S. Securities and Exchange Commission on August 19, 2009. The registrant is a foreign private issuer with principal executive offices in Amsterdam, The Netherlands. The filing serves to incorporate by reference two management presentations regarding international operations and corporate legacy issues into the company's Registration Statements on Forms S-8.
Key Financial Metrics
The filing text does not provide specific numerical values for revenue, profit, cash flow, margins, debt, or liquidity. The document functions as a cover sheet and safe harbor statement rather than a financial results report. The actual financial data and operational metrics are contained within the attached Exhibits 99.1 and 99.2, which are not included in the provided text.
Material Changes
No material changes in financial performance or operational status are detailed in the provided text. The filing references the company's proposal to transform into a Dutch "SE" company and transfer its corporate domicile from The Netherlands to Ireland to become an Irish "SE" company, which is noted as a risk factor and strategic initiative.
Guidance, Outlook, and Risks
The filing contains an extensive Safe Harbor Statement regarding forward-looking statements. Management cautions that actual results may differ materially from projections due to various risks, including:
- Asbestos Legacy: Liabilities arising from prior asbestos product manufacture, including contributions to the Australian Insurance Company Fund (AICF) and related legal proceedings.
- Corporate Restructuring: Risks associated with the proposed transfer of corporate domicile to Ireland.
- Market Conditions: Competition, product pricing, raw material costs, and general economic conditions.
- Legal and Regulatory: Exposure to environmental, asbestos, or other legal proceedings; tax law changes; and compliance with health and safety laws.
- Operational Risks: Reliance on a small number of customers, currency exchange rate movements, and natural disasters.
Investor Verification Checklist
- Review the full text of Exhibit 99.1 for specific details on international operations and financial performance.
- Review the full text of Exhibit 99.2 for updates on corporate legacy issues, specifically asbestos liabilities and AICF contributions.
- Verify the status and regulatory approval of the proposed corporate domicile transfer from The Netherlands to Ireland.
- Assess the impact of currency exchange rate fluctuations on the company's recorded asbestos liabilities.
- Monitor ongoing legal proceedings involving the Australian Securities and Investments Commission (ASIC) and former directors.