Ceramic Industry

Johns Manville To Purchase Skloplast

December 18, 2000
Johns Manville recently announced an agreement to acquire Skloplast a.s., a fiber glass manufacturing company located in Trnava, Slovakia. The financial terms of the agreement were not disclosed. The acquisition is expected to close during the first quarter of 2001, subject to various European regulatory approvals. "We are pleased to make a major investment in a strong, growing European business that builds on our current fiber glass capabilities and strengths," said Jerry Henry, chairman and CEO of Johns Manville. "Skloplast is a quality manufacturer whose complementary product offerings will bring significant value to our European fiber glass operations. Skloplast is a low-cost producer with a reputation for manufacturing excellent products. We expect the acquisition to be accretive to earnings in 2001."

For additional information, visit http://www.jm.com.