Business Context and Reporting Period
This Form 6-K filing is submitted by James Hardie Industries SE (formerly James Hardie Industries Plc) for the month of June 2011, dated June 3, 2011. The registrant is an Irish SE with principal executive offices in Dublin, Ireland. The filing serves to furnish information to the SEC pursuant to Rule 12g3-2(b) and includes a Safe Harbor Statement regarding forward-looking statements.
Key Financial Metrics
The provided filing text does not contain specific financial data. There are no reported values for revenue, profit, cash flow, margins, debt, or liquidity in this document. The text consists solely of cover page information, a Safe Harbor Statement, an Exhibit Index, and signatures.
Material Changes
The filing text does not provide data to compare against prior periods. Consequently, no material changes in financial performance or position can be identified from this specific document.
Guidance, Outlook, and Risks
The document contains a comprehensive Safe Harbor Statement identifying numerous forward-looking statements and associated risks. Key areas of uncertainty and risk highlighted include:
- Asbestos Liabilities: Risks related to prior asbestos product manufacture, contributions to the Asbestos Injury Compensation Fund (AICF), potential shortfalls in the AICF, and currency exchange impacts on recorded liabilities.
- Corporate Domicile: Risks associated with the transfer of the corporate domicile from The Netherlands to Ireland, including employee relations, governance changes, and tax implications.
- Market Conditions: Sensitivity to economic conditions, housing recovery, new home construction levels, unemployment, mortgage availability, and interest rates.
- Operational Risks: Competition, product pricing, seasonal demand fluctuations, raw material costs, and environmental or legal proceedings.
- Legal and Regulatory: Proceedings by the Australian Securities and Investments Commission (ASIC) against the company and former directors, and compliance with changing tax and environmental laws.
Investor Verification Checklist
- Verify the specific financial results for the period ending June 3, 2011, in the referenced Appendix 3B (Exhibit 99.1) or the most recent Form 20-F, as this 6-K does not contain the data.
- Confirm the current status of the AICF funding and any recent changes to asbestos liability estimates.
- Review the progress and implications of the corporate domicile transfer to Ireland.
- Assess the impact of current housing market conditions on the company's primary markets.
- Check for updates on legal proceedings involving the ASIC or other regulatory bodies.