Company announces cancellation of plans to build Moberly plant
MOBERLY - A New Jersey-based roofing manufacturer announced Thursday it cancelled plans to build an asphalt shingle manufacturing facility in Moberly.
GAF said the cancellation was a result of an unfavorable market and unanticipated increases in project and operating costs associated with the facility.
Bob Tafaro, President and CEO of GAF, said, "Unfortunately we had to make a difficult business decision as the economics of this investment have been impacted by the sustained sluggish market conditions".
The facility planned to have the largest production capacity of any single manufacturing plant in the industry at 320,000 square feet. It was set to employ 125 people and open at the end of 2017.
Gov. Jay Nixon said GAF planned to spend about $149 million on the facility, $5.6 million of which could have come from the state.
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