Company Profile
Johns Manville
Company Overview
Johns Manville, a Berkshire Hathaway company (NYSE: BRK.A, 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 approximately $2.5 billion and holds leadership positions in all of the key markets that it serves. JM employs approximately 7,000 people and operates 45 manufacturing facilities in North America, Europe and China.
Company History
2012 JM promotes Chief Financial Officer Mary Rhinehart to President and Chief Executive Officer.
JM acquires Industrial Insulation Group (IIG), a manufacturer of insulation for industrial, commercial and fireproofing applications, to complement JM’s portfolio of insulation products.
Milan, Ohio becomes the third JM facility in Ohio and the company's newest commercial roofing systems facility, manufacturing Ethylene Propylene Diene Monomer (EPDM) thermoset synthetic rubber single-ply roofing membrane product.
JM launches Invinsa FR Roof Board, the only high-density polyisocyanurate cover board on the market with a UL® Class A fire rating for single-ply roofing systems over combustible roof decks.
JM names Dr. Tim Swales Chief Sustainability Officer, publishes the company's first Sustainability Report and earns a Colorado Environmental Leadership award for its commitment to sustainability and voluntarily going beyond compliance with state and federal regulations.
JM's Lewiston, Maine roofing facility becomes the eighth JM plant to receive the Occupational Safety and Health Act (OSHA) Voluntary Protection Program (VPP) Star. Lewiston joins the seven other JM facilities that have received the VPP Star: Tucson, Arizona; Willows, California; Jacksonville, Florida; Macon, Georgia; McPherson, Kansas; Richland, Mississippi; and Fernley, Nevada.
2011 RetroPlus Roof Board, with the UL Environment™ Environmental Claims Validation (ECV) for recycled content, is added to JM's cover board product portfolio.
JM announces investment to expand current fiber production capacities in its Trnava, Slovakia facility.
JM named a Climate Action Leader by the California Climate Action Registry for the third year in a row because the company has voluntarily quantified, verified and publicly reported their California greenhouse gas (GHG) emissions. JM remains the only insulation manufacturer to have earned this status.
JM brings additional capacity online at its Waterville, Ohio facility, immediately increasing supply for some products by as much as 35 percent.
JM sponsors the Living City Block, a program to make urban landscapes more sustainable and livable.
2010 JM launches U.S. advertising campaign focused on creating a healthier living environment by choosing JM Formaldehyde-free™ insulation.
JM introduces JM ocSPF insulation, a low-density polyurethane open-cell spray foam insulation designed for commercial and residential applications. Wins Global Insulation magazine’s New Product of the Year.
JM again recognized as a Climate Action Leader by the California Climate Action Registry.
JM’s Nonwovens European business group recognized by Wirtschaftsuniversität Wien (Vienna University of Economics and Business) as a “Top 100 Innovator” for the second year in a row.
JM announces supply agreement with SolarFrameWorks to provide crystalline solar panel solutions.
JM launches a TPO Challenge that highlights product from JM's new Scottsboro, AL facility, resulting in recognition as the "clear choice of 9 out of 10 professionals."
2009 JM announces the creation of JM E3co and its entry into the solar energy roofing market.
In this same year, JM acquires Corbond Corporation of Belgrade, Montana, a manufacturer of closed-cell spray foam building insulation.
JM enters into an exclusive alliance with Lowe’s to serve as the retailer’s only fiber glass building insulation supplier.
2008 JM celebrates its 150th anniversary.
Johns Manville recognized as a Climate Action Leader by the California Climate Action Registry.
JM’s Jacksonville, Florida, Roofing Systems facility receives OSHA Voluntary Protection Program (VPP) certification.
JM opens state-of-the-art thermoplastic polyolefin (TPO) manufacturing facility in Scottsboro, Alabama.
2007 Johns Manville announces inauguration of new nonwoven spunbond mat production line in Luoyang, China.
JM dedicates new pipe insulation operation in Defiance, Ohio.
JM launches new loose-fill manufacturing line in Innisfail, Alberta, Canada, increasing JM’s Formaldehyde-free fiber glass insulation capacity by 200 million pounds for the North American market.
JM Macon, Georgia; Tucson, Arizona; and McPherson, Kansas facilities receive OSHA Voluntary Protection Program (VPP) certification.
2006 JM introduces innovative new products, including Invinsa™, a resilient, lightweight roof cover board designed as an integral component of the roof system; GlasKap CR, a white mineral surfaced, white acrylic coated, fiber glass cap sheet for use in built-up roofing systems; and Gorilla Wrap®, a non-woven, non-perforated housewrap designed to significantly reduce air and water infiltration into the wall cavity of a building.
Johns Manville honored by National Safety Council for Excellence in Workplace Safety.
JM opens new spunbond production line in Bobingen, Germany.
2005 JM introduces formaldehyde-free MR™ Faced Batts treated with an EPA registered preservative that helps protect the product from the potential growth of mold and mildew.
JM announces plans to expand its Bobingen, Germany, facility by adding a new polyester spunbond production line.
JM announces plans to build a new nonwoven glass mat production line at its facility in Etowah, Tennessee.
2004 JM announces plans for new $100 million pipe insulation plant in Defiance, Ohio, to begin production in mid-2006.
JM starts up a new furnace in its Trnava, Slovakia, facility, a $100 million investment in the growing composites industry.
JM introduces JMCleanbond, a premium modified bituminous asphalt roofing system that adheres without heating.
JM introduces JM Spider™, a new spray-in, formaldehyde-free blowing wool insulation system.
JM announces plans to increase capacity of Formaldehyde-free™ fiber glass building insulation produces by up to 200 million pounds between 2004 and 2006.
JM introduces DuraCore™ SF Plus, a new generation of chopped fiber glass for use in fire-rated wallboard.
Chairman & CEO Jerry Henry retires; Steve Hochhauser promoted to Chairman, President & CEO.
JM introduces Dura-Glass® a new glass fiber nonwoven with a unique thermosetting binder for architectural panels and facings.
2003 Pipe insulation plant in Defiance, Ohio, is destroyed in a devastating fire; no injuries result.
JM announces plans for $100 million investment in its Trnava, Slovakia, facility.
2002 JM introduces Formaldehyde-free building insulation to the market and becomes the only manufacturer of a complete line of formaldehyde-free building insulation products.
Steven B. Hochhauser appointed President & COO.
2001 Johns Manville completes purchase of Skloplast a.s., a fiber glass manufacturer in Slovakia.
Berkshire Hathaway Inc. completes cash tender offer and acquisition of Johns Manville Corporation.
2000 Johns Manville completes sale of monofilament business to Teijin Limited.
Johns Manville announces an offer to be acquired by Berkshire Hathaway for share tender price of $13 per share.
Johns Manville and investor group terminate merger agreement.
Johns Manville enters into merger agreement with investor group led by Hicks, Muse, Tate & Furst and Bear Stearns Merchant Banking.
1999 JM acquires the spunbond/monofilament division of Hoechst, greatly expanding its synthetic product offerings in the Engineered Products Group.
JM finalizes a strategic alliance with Apache Products Company to acquire and lease five polyisocyanurate roofing insulation and sheathing product facilities.
JM announces it will repurchase an additional $166.8 million of stock from the Trust. Tax deductions resulting from the transaction will lower JM’s effective tax rate and result in increased earnings per share.
1998 JM acquires a calcium silicate and fireproof board plant in western Colorado, begins operations as Mesa Insulation.
Outstanding debt refinanced; 3.6 million shares bought back from majority owner.
Construction begins on Macon, Georgia, roofing materials plant, JM's first new plant in twenty years.
Canadian polyiso foam producer Exeltherm acquired.
JM acquires Tasso AB, Swedish manufacturer of fiber glass wall coverings.
JM acquires perlite board assets from BMCA; enters partnership to develop, manufacture and market Firetemp™ brand "firestop" products.
1997 Schuller completes acquisition of Ergon; announces plans to acquire Mitex Group, Europe-based manufacturers of textile glass wall coverings.
Schuller announces that the Board voted unanimously to ask the shareholder to approve changing the company's name back to Johns Manville Corporation at annual meeting, May 2, 1997.
1996 Manville completes sale of its majority interest in Riverwood International Corp.; changes name to Schuller Corporation.
Schuller completes the acquisitions of Nord Bitumi and Dibiten; also acquires Web Dynamics, NRG Barriers.
Tom Stephens steps down as Chairman, President and CEO; C.L. 'Jerry' Henry replaces him, joining Schuller on September 9.
Schuller announces plans to acquire Ergon Nonwovens.
1995 Manville announces plans to sell its majority interest in Riverwood.
Manville sells its majority interest in Stillwater Mining Company.
Manville announces plans to change the name of the company to Schuller Corporation.
Schuller expands into Poland and China.
Schuller expands rotary production capacity for building insulation, mechanical and specialty insulation products.
Schuller announces plans to acquire Nord Bitumi and Dibiten USA.
1994 In late 1994, Schuller completes an initial public offering of $400 million senior notes. The proceeds were used to satisfy most of the remaining fixed income obligations to the Trust.
The Bankruptcy Act of 1994 was signed into law, which contained a provision that helped reassure the financial markets that the Injunction, forever protecting Schuller from asbestos liability, was indeed permanent.
In July, the Trust announced that a settlement had been reached in the class action lawsuit to restructure the way it settles claims. The settlement was approved by the District Court in New York in January 1995 and the Trust began paying claims under the new settlement plan in February, 1995.
1993 Schuller completes purchase of Steinachglas, a glass mat producer in Thuringen, Germany (formerly East Germany).
Schuller announces intent to acquire the commercial/industrial roofing business from Owens-Corning Fiberglas and to sell its residential roofing business to Owens-Corning Fiberglas. Transaction completed in January 1994.
Manville pays second special dividend of $1.04 per share.
1992 Manville Corporation's first full year under the holding company structure.
Manville Sales Corporation is renamed Schuller International Group, Inc.
Manville Corporation's worldwide fiber glass-based business, headquartered in Denver, Colorado.
Manville pays first dividend after reorganization of $1.04 per share.
1991 Manville establishes holding company structure and streamlines its business to focus on two key areas: fiber glass (Manville Sales Corporation) and forest products (Manville Forest Products).
1988 Manville Corporation emerges from Chapter 11 on November 28.
Manville Personal Injury and Property Damage Settlement Trusts established.
New Manville Corporation securities begin trading on the New York Stock Exchange.
1986 W. Thomas Stephens named President, CEO.
Second proposed Plan of Reorganization formally filed in federal bankruptcy court.
Confirmation order issued and immediately appealed.
1983 First Chapter 11 reorganization plan is filed.
Seeks to put asbestos health claimants on equal footing with all creditors and to provide a fair, systematic way of handling health claims.
1982 Manville Corporation files for Chapter 11.
Manville and certain of its subsidiaries file (individually) for protection under Chapter 11 of the Bankruptcy Reform Act of 1978 in U.S. Bankruptcy Court for the Southern District of New York.
1981 Manville Corporation formed in corporate reorganization.
Organization based on five operating divisions: building materials; forest products; industrial products; specialty products; international businesses.
1977 HERM fiber glass process developed.
Process significantly reduces fiber glass production costs.
Company began a $200 million four-year capital expansion program at six U.S. fiber glass plants designed to double capacity by 1981.
1974 Johns-Manville sales exceed $1 billion.
Company holds solid position as one of the nation's leading manufacturers of fiber glass, asbestos-cement pipe and polyvinyl chloride (PVC) pipe.
1972 Johns-Manville moves World Headquarters from New York to Denver, Colorado.
1971 Johns-Manville makes European acquisition and increases share in fiber glass business by purchasing a 75 percent interest in Johns Manville Fiber Glass of West Germany (acquired the remaining 25 percent between 1972 and 1977).
World's leading developer of fiber glass mat.
1958 Johns-Manville enters the fiber glass business by purchasing L.O.F. Glass Fibers, Ohio, a fiber glass insulation company.
1945 Government mandates production of asbestos-containing insulation products (silica/asbestos combination) to insulate Navy vessels, and products for other war purposes.
1939 Johns-Manville shifts into wartime production.
1930 Johns-Manville Corporation selected to join the Dow Jones Industrials.
1927 The Johns-Manville Corporation goes public.
Financier J.P. Morgan buys largest percentage.
1926 Reincorporated as Johns-Manville Corporation.
1901 H.W. Johns Manufacturing Company and Manville Covering Company merge to form the H.W. Johns-Manville Company, New York, New York.
New products added, including automotive sheet packing for cylinders, asbestos/cement, acoustical and magnesia products.
1886 The inception of the Manville Covering Company, Milwaukee, Wisconsin.
Founded on the principal uses of asbestos as a heat insulating material.
1858 The inception of the H.W. Johns Manufacturing Company, New York, New York.
Founded on the principal uses of asbestos as a fire resistant roofing material.
Benefits
Investing in our people:
JM believes in the principles of diversity and inclusiveness and knows these are critical to innovative growth and success. We also ensure continued innovation and success through our efforts to develop employees. Our performance management process strives to ensure the performance of employees is evaluated through constructive and frequent feedback. Additionally, development plans that include experiential and classroom training, along with technical and functional ladders, help establish and support long-term career paths.
We strive to build an environment where employees feel valued and clearly understand expectations, are given performance feedback, and are challenged to continuously develop their skills and competencies.
Providing benefits to build a secure future:
JM offers U.S.-based employees a comprehensive benefits package, designed to provide you and your family security at affordable rates for both you and the company.
The foundation of our program is a basic level of protection for your family's everyday financial needs. JM offers medical, dental, vision and wellness benefits; life and accident insurance options; disability coverage; and special tax-savings opportunities.
We also offer you opportunities to build your future wealth. The company's 401(k) plans allow you to defer part of your pay on a before-tax and an after-tax basis. JM contributes to your future by matching a portion of your pre-tax contributions.
Finally, our program includes a number of other high-value benefits that recognize the importance of time off, encourage your professional and personal growth, and help you balance work and family challenges.
Supporting our communities:
JM is a major employer in many of the communities where we operate and we want to be an asset and a positive force in those communities. Employee volunteer programs, along with cash grants and in-kind donations, are key ways we support our communities.