From Plastics News
Denver, Colorado -- Johns Manville Corp. today announced that it has acquired Corbond Corp., a manufacturer of high-yield closed-cell spray foam insulation.
Denver-based Johns Manville said Corbond's product complements JM's line of fibreglass building insulation.
JM Corbond III is a spray-applied, medium-density closed-cell polyurethane foam plastic insulation that can be used alone or in hybrid systems with JM fibreglass in residential, commercial and industrial applications.
According to Johns Manville, spray foam represents one of the fastest-growing categories of insulation.
"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." said JM ceo Todd Raba, in a news release.
Corbond now is a wholly owned subsidiary of JM. Corbond employees will continue operating out of the company's Belgrade, Montana., manufacturing plant, where JM plans to build a product demonstration and training facility.
Johns Manville is a unit of Berkshire Hathaway Inc. JM employs about 7000 people and operates 40 manufacturing facilities in North America, Europe and China.