Johns Manville, a Berkshire Hathaway company (BRK-A, BRK-B), announced it has purchased Industrial Insulation Group, LLC or IIG) a manufacturer of insulation for industrial, commercial and fireproofing applications.
IIG was formed in 2002 as a joint venture between Johns Manville and The Calsilite Group. Johns Manville previously owned a minority interest in IIG, but will now operate the company as a standalone LLC wholly owned by Johns Manville.
Johns Manville said it does not plan to significantly change the operations at IIG. Existing IIG plants located in Brunswick, Ga.; Grambling, La.; Fruita, Colo.; Phenix City, Ala.; and Houston, Texas are a key part of JM's future commercial and industrial strategy. IIG Chairman and Chief Executive Philippe Delouvrier will remain involved with the company in an advisory role, Johns Manville said.
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