Johns Manville Announces Acquisition of Industrial Insulation Group
Transaction marks expansion of insulation products line to include additional solutions for industrial, commercial and fireproofing applications
DENVER--(BUSINESS WIRE)-- Johns Manville (JM), a Berkshire Hathaway (BRK.A) 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. IIGs product line complements JMs portfolio of insulation products, allowing JM to offer an even broader continuum of solutions that meet the insulation requirements for any project.
Expanding JMs interest in IIG is another way we are addressing customers needs by offering the industrys 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 IIGs 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.
- 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.
- IIGs 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.
- 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.
- IIGs 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 JMs Performance Materials business. We look forward to continuing IIGs 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 JMs 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 JMs Insulation Systems business. Were 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.
Ashley Campbell, 303-951-2568
Melody Dunbar, 303-978-2350
Source: Johns ManvilleCopyright Business Wire 2012