Johns Manville Acquires Corbond - Montana-based Spray Foam Insulation Manufacturer
Johns Manville Introduces JM Corbond IIITM, a Premium High-Yield Closed-Cell Spray Foam Building Insulation
DENVER--(BUSINESS WIRE)--Johns Manville (JM), a Berkshire Hathaway company and global building products manufacturer, today introduced JM Corbond IIITM, a premium high-yield closed-cell spray foam insulation product that complements JM’s full line of Formaldehyde-freeTM fiber glass building insulation. This is a result of JM acquiring Corbond Corporation, a 26-year-old manufacturer of advanced spray foam insulation.
“Our customers asked for a spray foam product, and we answered their call with one of the most advanced, performance-driven closed-cell foams available,” said Mike Lawrence, vice president and general manager for JM’s Insulation Systems business. “The acquisition of Corbond allows us to offer a continuum of high-quality insulation products. In addition to serving as a stand-alone insulation, JM Corbond III can be installed together with JM fiber glass to create hybrid systems that meet the demands of any project.”
As a result of an increased focus on energy efficiency, spray foam represents one of the fastest-growing categories of insulation. “We found the right company with the right product solution for our customers,” said JM CEO Todd Raba. “This is the right time to invest in enhancing our product portfolio, because it strengthens our existing business, and also positions JM for success as our markets recover.”
JM Corbond III, which is immediately available, is a spray-applied, medium-density closed-cell polyurethane foam plastic insulation that can be used alone or in hybrid systems with JM fiber glass to create custom insulation solutions for residential, commercial and industrial applications. JM Corbond III offers the highest yield of any closed-cell foam building insulation, providing 5,000 to 5,200 board feet of coverage per set. It also provides superior thermal, moisture and cold-temperature performance and dimensional stability. It sprays at 3 inches per pass, allowing for maximum productivity.
Corbond is now a wholly owned subsidiary of JM. Corbond employees will continue operating out of the company’s Belgrade, Mont., manufacturing facility, where JM plans to build a product demonstration and training facility.
“As part of the JM family, we now have access to world-class research and development to meet the extraordinary potential of a product we devoted 26 years to perfecting,” said Corbond founder Neal Ganser, who will remain involved in the business. “This is a win for our customers, and a great fit for JM and for Corbond.”
About Johns Manville
Johns Manville, a Berkshire Hathaway company (NYSE: BRK.A) (NYSE: 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 $2 billion and holds leadership positions in all of the key markets that it serves. JM employs approximately 7,000 people and operates 40 manufacturing facilities in North America, Europe and China. Additional information can be found at www.JM.com.
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Mark Ziegert, 303-978-2888
Russ Rizzo, 303-951-2561