Fruita factory part of purchase of insulation manufacturer
A global building products manufacturer has purchased an insulation company whose operations include a factory in Fruita.
Johns Manville has acquired Industrial Insulation Group and will operate ILG has a standalone company. No significant changes are planned for ILG operations, however, including the Fruita facility that employs about 100 people.
ILG was formed in 2002 as a joint venture between Johns Manville and the Calsilite Group. Johns Manville, a Berkshire Hathaway company based in Denver, owned a minority interest.
In addition to the factory in Fruita, what were formerly ILG plants are located in Brunswick, Ga.; Grambling, La.; Phenix City, Ala.; and Houston.
The acquisition brings together insulation product lines manufactured by the two companies. ILG manufacturers a range of insulation and fireproofing products for residential, commercial and industrial applications.
Johns Manville manufactures building, mechanical and roof insulation for a wide range of applications. The company reports $2.5 billion in annual sales, employs 6,600 people and operates 40 manufacturing facilities worldwide.
“Expanding JM’s interest in ILG is another way we are addressing customers’ needs by offering the industry’s most complete line of insulation products,” said Todd Raba, chairman, president and chief executive officer of Johns Manville. “ILG has a consistent track record of product performance, in keeping with the quality our customers expect from Johns Manville. We look forward to exploring opportunities to build on ILG’s strong market position and expand its product portfolio.”
Philippe Delouvrier, chairman and CEO of ILG, is expected to remain involved in the company in an advisory role. “ILG is pleased to join the Johns Manville and Berkshire Hathaway families,” Delouvrier said.
“The next chapter in ILG history sets us up for continued success with greater opportunity for growth in existing and new markets.”
Dave Skelly, director of sales for the Johns Manville performance materials business, said the increased investment in ILG will pay off in more products and a broader customer base.