Feb. 25--Georgia Gulf Corp., which is being battered by the housing downturn, is also in danger of being delisted from the New York Stock Exchange.

The Atlanta-based company, which makes chemical and plastic products used in homebuilding, is at risk for delisting because its total market capitalization in the last 30 consecutive trading days is below $75 million.

The company also is out of compliance with an NYSE requirement that shareholder equity be at least $75 million.

It has 45 days to respond to exchange officials with a plan for how it plans to get back into compliance within 18 months. In a news release after the close of markets Tuesday, the company said it will submit a plan.

Five other metro Atlanta firms have been removed from exchanges in the last year -- Spectrum Brands, Vyyo, Omni Financial Services, Atherogenics and Verso Technologies.

Companies usually fight delistings because the action makes their shares more speculative and can make it more expensive to borrow money.

Last week, Georgia Gulf reported a fourth-quarter loss of $198.7 million. Its shares, which closed at 85 cents Tuesday, have fallen from a 52-week high of $8.16.

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