August 07, 2012 at 16:13 PM EDT
Johns Manville Announces Acquisition of Industrial Insulation Group

Johns Manville (JM), a Berkshire Hathaway company and global building products manufacturer, today announced it has purchased Industrial Insulation Group, LLC (IIG), a manufacturer of insulation for industrial, commercial and fireproofing applications.

IIG was formed in 2002 as a joint venture between JM and The Calsilite Group. JM previously owned a minority interest in IIG, but will now operate the company as a standalone LLC wholly owned by JM. IIG’s product line complements JM’s portfolio of insulation products, allowing JM to offer an even broader continuum of solutions that meet the insulation requirements for any project.

“Expanding JM’s interest in IIG is another way we are addressing customers’ needs by offering the industry’s most complete line of insulation products,” said Todd Raba, JM chairman, president and CEO. “IIG has a consistent track record of product performance, in keeping with the quality our customers expect from Johns Manville. We look forward to exploring opportunities to build on IIG’s strong market position and expand its product portfolio.”

IIG manufactures a wide range of insulation products for use in industrial, commercial and fireproofing applications and offers a unique “good, better, best” portfolio of high-temperature insulation, ranging from mineral wool to perlite to calcium silicate. Each product is designed to meet even the most demanding applications.

Industrial

  • IIG industrial mineral wool insulation is available as pre-formed pipe insulation, industrial boards, metal mesh blankets, flexible batts and pipe and tank wrap, including unique MPT, a range of products that includes v-groove pipe insulations and other products such as fittings, metal mesh blankets and more.
  • Thermo-12® Gold calcium silicate products are available in a range of sizes and forms and deliver exceptional strength and durability with low thermal conductivity for high-temperature applications. Additionally, this project contains a corrosion inhibitor, referred to as XOX.
  • IIG also offers an expanded perlite product with a built-in corrosion inhibitor. Combined with resistance to water absorption, Sproule WR-1200® effectively minimizes corrosion to outside surfaces of pipe and equipment while providing excellent thermal performance.

Commercial

  • IIG’s commercial mineral wool insulation line, made from basalt volcanic rock and available in batts and boards, provides fire safety in conjunction with thermal control and sound protection.

Fireproofing

  • IIG Super Firetemp® board is a noncombustible fireproofing board used in assemblies requiring one- to four-fire ratings and is capable of withstanding temperatures in excess of 1,800 degrees Fahrenheit.
  • MinWool-1200® insulation, a fire resistant mineral wool, is available in a wide variety of shapes and forms for industrial and commercial applications.

Accessories

  • IIG’s accessory offerings include a variety of adhesives, finishing cement and coatings, each specifically designed to complement IIG insulation products.

“With our increased investment in IIG, JM will be able to offer the most complete line of mechanical insulation solutions to a broader commercial and industrial customer base,” said Dave Skelly, director of sales for JM’s Performance Materials business. “We look forward to continuing IIG’s tradition of superior product performance and customer service.”

JM does not plan to significantly change the operations at IIG. Existing IIG plants located in Brunswick, Ga.; Grambling, La.; Fruita, Colo.; Phenix City, Ala.; and Houston, Texas are a key part of JM’s future commercial and industrial strategy. IIG Chairman and Chief Executive Philippe Delouvrier will remain involved with the company in an advisory role.

“IIG is pleased to join the Johns Manville and Berkshire Hathaway families,” said Delouvrier. “This next chapter in IIG history sets us up for continued success with greater opportunity for growth in existing and new markets.”

“Philippe Delouvrier and his team have made IIG a recognized leader in industrial insulation,” said Fred Stephan, vice president and general manager of JM’s Insulation Systems business. “We’re delighted Philippe will remain involved with the business as we work to build on the success his team has established.”

About Johns Manville

Johns Manville, a Berkshire Hathaway company (NYSE: BRK.A, BRK.B), is a leading manufacturer and marketer of premium-quality products for building insulation, mechanical insulation, commercial roofing, and roof insulation, as well as fibers and nonwovens for commercial, industrial and residential applications. JM serves markets that include aerospace, automotive and transportation, air handling, appliance, HVAC, pipe and equipment, filtration, waterproofing, building, flooring, interiors and wind energy. In business since 1858, the Denver-based company has annual sales of approximately $2.5 billion and holds leadership positions in all of the key markets that it serves. JM employs approximately 6,600 people and operates 40 manufacturing facilities in North America, Europe and China. Additional information can be found at www.jm.com.

Contacts:

Linhart PR
Ashley Campbell, 303-951-2568
acampbell@linhartpr.com
or
Johns Manville
Melody Dunbar, 303-978-2350
Melody.Dunbar@jm.com
Related Stocks:
Stock Market XML and JSON Data API provided by FinancialContent Services, Inc.
Nasdaq quotes delayed at least 15 minutes, all others at least 20 minutes.
Markets are closed on certain holidays. Stock Market Holiday List
By accessing this page, you agree to the following
Privacy Policy and Terms and Conditions.
Press Release Service provided by PRConnect.
Stock quotes supplied by Six Financial
Postage Rates Bots go here