SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, D.C. 20549
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FORM 8-K
CURRENT REPORT PURSUANT
TO SECTION 13 OR 15(D) OF THE
SECURITIES EXCHANGE ACT OF 1934
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Date of Report (Date of earliest event reported):
January 7, 2000
BUILDING MATERIALS CORPORATION OF AMERICA
(Exact name of registrant as specified in its charter)
DELAWARE 33-81808 22-3276290
(State or other jurisdiction (Commission File Number) (IRS Employer
of incorporation) Identification Number)
1361 Alps Road, Wayne, New Jersey 07470
(Address of principal executive offices) (Zip Code)
Registrant's telephone number, including area code (973) 628-3000
ADDITIONAL REGISTRANTS
Registration Address, including zip
State or other No./I.R.S. code and telephone number,
jurisdiction of Employer including area code, of
Exact name of registrant as incorporation Identification registrant's principal
specified in its charter or organization No. executive offices
- --------------------------- --------------- -------------- --------------------------
Building Materials
Manufacturing Corporation.... Delaware 333-69749-01/ 1361 Alps Road
22-3626208 Wayne, NJ 07470
(973) 628-3000
Building Materials
Investment Corporation....... Delaware 333-69749-02/ 300 Delaware Avenue
22-3626206 Wilmington, DE 19801
(302) 427-5960
Item 5. Other Events
GAF Corporation ("GAF"), a parent of Building Materials Corporation
of America (the "Company"), has advised the Company that the Center for Claims
Resolution ("CCR"), a non-profit organization set up to administer and handle
asbestos-related personal injury claims against the participating companies and
in which GAF is a member, has terminated GAF's membership, effective January 17,
2000. GAF has advised the CCR that such termination was unauthorized and that it
intends to take appropriate measures to protect its rights to pursue claims
against the CCR and its member companies arising out of such improper
termination.
GAF has confirmed to the Company that it has experienced a
significant increase, in the rate of new asbestos claims over the past two
years, principally by individuals without any asbestos-related impairment, and
in the amounts demanded to settle such claims. GAF believes that these trends
and the CCR's termination of GAF's membership have, in no small part, resulted
from, or were induced by, retaliatory actions taken by the asbestos lawyers
against GAF in connection with GAF's active support of the proposed legislation
currently pending in Congress to address the national asbestos litigation
crisis. GAF also has advised the Company that depending upon whether such trends
continue or other retaliatory actions are taken, the resolution of GAF's claims
against the CCR and its member companies and whether the proposed legislation
currently pending in Congress is enacted into law, termination of GAF's
membership in the CCR could have a material adverse effect on GAF.
SIGNATURES
Pursuant to the requirements of the Securities Exchange Act of 1934,
the Registrants have duly caused this report to be signed on their behalf by the
undersigned, thereunto duly authorized.
BUILDING MATERIALS CORPORATION OF AMERICA
BUILDING MATERIALS MANUFACTURING CORPORATION
BUILDING MATERIALS INVESTMENT CORPORATION
Date: January 7, 2000 By: /s/ Richard A. Weinberg
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Name: Richard A. Weinberg
Title: Executive Vice-President,
General Counsel and Secretary
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