Printer Friendly

Johns Manville to Acquire Canadian Manufacturer, Manson Insulation, Inc.

DENVER and MONTREAL, July 20 /PRNewswire/ -- Manson Insulation and Johns Manville announced today that they have signed a letter of intent whereby Johns Manville will acquire Manson Insulation, headquartered in Brossard, Quebec, Canada. The acquisition is a stock transaction and is subject to regulatory approval including the Canadian Bureau of Competition Policy.

"This transaction is very positive for all Manson stakeholders, in particular our employees and customers," stated Keith F. Eaman, Chairman and CEO, Manson Insulation. "It puts Johns Manville's strength behind the Manson brand, and provides the opportunity for growth in Manson sales and production. JM's commitment to the commercial and industrial insulations business, and breadth of product offering will be a real plus for Manson."

Tom Caltrider, Senior Vice President, Insulation Group of Johns Manville added, "This acquisition establishes a Canadian manufacturing location in our core commercial and industrial insulations segment. We look forward to further developing and promoting the Manson brand through its strong customer base."

Manson produces fiber glass pipe insulation, duct liner, OEM products and metal building insulation at its manufacturing facility also in Brossard. Manson purchased the plant from Johns Manville in 1986, and currently employs about 150 workers.

Johns Manville (NYSE: JM) is a leading manufacturer and marketer of premium quality insulation and building products. The 140-year-old Denver-based company had sales of $1.65 billion in 1997. Johns Manville produces and markets insulation products for buildings and equipment; commercial/industrial roofing systems; and engineered products including high-efficiency filtration media, fibers, fabric and nonwoven mats used as reinforcements in building and industrial applications. Johns Manville employs approximately 8,300 people and operates 50 manufacturing facilities in North America, Europe and China. Additional information can be found at www.jm.com.

SOURCE Johns Manville
 -0- 07/20/98


/CONTACT: Investor: John Cummings, 303-978-4914, or Media: Tom Rafferty, 303-978-2038, both of Johns Manville/

/Company News On-Call: http://www.prnewswire.com or fax, 800-758-5804, ext. 527775/

/Web site: http://www.jm.com/

(JM)

CO: Johns Manville; Manson Insulation ST: Colorado IN: CST SU: TNM

MR-DO -- LAM028 -- 1398 07/20/98 09:30 EDT http://www.prnewswire.com
COPYRIGHT 1998 PR Newswire Association LLC
No portion of this article can be reproduced without the express written permission from the copyright holder.
Copyright 1998 Gale, Cengage Learning. All rights reserved.

 Reader Opinion

Title:

Comment:



 

Article Details
Printer friendly Cite/link Email Feedback
Publication:PR Newswire
Date:Jul 20, 1998
Words:350
Previous Article:Alpha Bytes, Inc. Hires New VP of Operations and Announces H-NET Healthcare Network Launch
Next Article:St. Jude Medical Announces U.S. Market Launch of Locator Steerable Stylet
Topics:

Terms of use | Copyright © 2014 Farlex, Inc. | Feedback | For webmasters