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SCHULLER INTERNATIONAL FINALIZES EXCHANGE OF ROOFING BUSINESSES WITH OWENS-CORNING

 DENVER, Jan. 17 /PRNewswire/ -- Schuller International Inc. of Denver announced today that it has finalized its previously announced exchange of its North American residential roofing business for Owens-Corning's North American commercial and industrial roofing business, each with annual sales of approximately $85 million.
 As a result of the exchange Schuller has acquired Owens-Corning's commercial and industrial roofing plant in Oklahoma City, as well as Owens-Corning's modified bitumen equipment now located in Canada. Schuller will also produce Perma Ply-R(R) at its Oklahoma City plant and will market fiber glass roof insulation produced by Owens-Corning in Kansas City, Kan. Owens-Corning has acquired Schuller's residential roofing equipment in Savannah, Ga., as well as Schuller's residential roofing equipment now located in Waukegan, Ill. Terms of the exchange were not disclosed.
 Schuller International, a fiber glass-based building materials company, employs approximately 7,300 people worldwide with annual sales in 1992 of approximately $1.1 billion. It has 33 production facilities in North America and Europe. Schuller manufactures and sells insulation, reinforcements, filtration and building products. Schuller International is a wholly owned subsidiary of Manville Corp. (NYSE: MVL). Both are headquartered in Denver.
 -0- 1/17/94
 /CONTACT: John Cummings of Schuller International, 303-978-4914/
 (MVL)


CO: Manville Corp.; Schuller International Inc. ST: Colorado IN: PAP SU:

BB -- DV001 -- 2340 01/17/94 07:01 EST
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Publication:PR Newswire
Date:Jan 17, 1994
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