MANVILLE CORPORATION CHANGES NAME TO SCHULLER INTERNATIONAL, INC.
MANVILLE CORPORATION CHANGES NAME TO SCHULLER INTERNATIONAL, INC. WATERVILLE, Ohio, Feb. 11 /PRNewswire/ -- Denver-based Manville Corporation (NYSE: MVL) has changed the name of its fiberglass-based subsidiary to Schuller International, Inc. from Manville Sales Corporation. The new name will be applicable to all Northwest Ohio and Southeast Michigan operations of the company -- including those in Waterville and Defiance, Ohio; and the automotive business center in Livonia, Mich. The change is effective immediately. The company's business in this region is made up of construction and building materials, fiberglass reinforcements and automotive products, and will operate in the state of Ohio under the name of Schuller International Glass Fibers, Inc. "The new name signifies many new beginnings for us," said William Ehner, senior vice president of operations with the company. "Most important, it points up our dedication to leadership in glass fiber technologies and products. We are better positioned to be a global manufacturer." The area's operations include two manufacturing facilities, a research and development center and Mats & Reinforcements Division headquarters in Waterville; three manufacturing plants in Defiance, Ohio; and an automotive business center in Livonia. Nearly 1,600 are employed by Schuller in these eight locations. Annual sales are $240 million. "The company is already making a significant contribution to the Northwest Ohio area," said Lawrence Doyle, vice president and general manager, Mats & Reinforcements Division. Annual employee compensation totals $60 million, and the company makes an annual contribution of about $6 million to the local tax base. Reinvestment in the company's manufacturing facilities has positioned Schuller to be a leader in the global market, said Doyle. "Capital improvements to Northwest Ohio and Southeast Michigan facilities in recent years have totaled more than $100 million," he said, "with $85 million of that expended in 1991 and 1992. Products manufactured in Northwest Ohio are currently being exported to customers throughout Europe and the Far East. We expect this business to grow dramatically in the coming years." The name "Schuller" comes from a company acquired by Manville in 1970 called Galswerk Schuller in Germany. Glaswerk Schuller, now called Schuller GmbH, was founded in 1896 and pioneered the development of specialty glass technologies such as nonwoven glass mats and specialty glass yarn. Although not well known in North America, Schuller GmbH has the highest reputation for quality through Europe and Asia. -0- 2/11/92 /CONTACT: Julie R. Pompa of Lauerer Markin Gibbs, Inc., 419-893-2500, for Manville Corp./ (MVL) CO: Manville Corporation ST: Ohio IN: SU:
KK -- CL009 -- 8802 02/11/92 12:27 EST
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|Date:||Feb 11, 1992|
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