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SCHULLER INTERNATIONAL ANNOUNCES PURCHASE OF CERTAIN ASSETS OF OWENS-CORNING'S CALCIUM SILICATE INSULATION BUSINESS

 DENVER, July 7 /PRNewswire/ -- Schuller International Inc., today announced that it has purchased certain assets of Owens-Corning's calcium silicate insulation business. On July 2, Owens-Corning announced its exit from the calcium silicate insulation business in the United States and the discontinuance of production of calcium silicate at its Berlin, N.J. facility in 1993. Details of the transaction, valued at less than $2 million, were not disclosed.
 According to Michael R. Harrison, vice president and general manager of Schuller's Mechanical & Specialty Insulations Division, Schuller will also supply to Owens-Corning calcium silicate pipe and block insulation from its Waukegan, Ill., plant to support Owens-Corning's customers during the transition between the two firms.
 Calcium silicate is used for high temperature pipe and equipment insulation for industrial applications such as power plants and refineries. Stated Harrison, "Despite a declining industrial market, calcium silicate insulation continues to be a crucial product for industrial insulation distributors, contractors and owners. This investment augments our industrial insulations business and demonstrates Schuller's ongoing commitment to sustaining and further developing the high quality Thermo-12(R) calcium silicate insulations for which we are well known."
 In a joint announcement to their customers, the two companies stated that this agreement will enable both of them to focus their efforts on markets and technologies that best fit each company's strategic initiatives.
 Schuller International 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. It is a wholly owned subsidiary of Manville Corp. (NYSE: MVL). Both are headquartered in Denver.
 -0- 7/7/93
 /CONTACT: Sharon Sweet of Schuller International, 303-978-4694/
 (MVL)


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

MC -- DV008 -- 9113 07/07/93 13:48 EDT
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Publication:PR Newswire
Date:Jul 7, 1993
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