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Johns Manville Unveils Plan for Significant Investments in the Reinforcements Business
(Bad Homburg, Germany, April 1, 2003) --- Johns Manville, a market-leading manufacturer of glass fiber systems for the reinforcement industry, today announced plans to enlarge production capacities and demonstrate its commitment to the growing composites industry with an investment of approximately $100 million in a greenfield glass fiber operation at its Trnava, Slovakia location.
Noting the steady growth rate composites have enjoyed over the last 30 years, and keen to support that growth industry-wide, Michael Effing, Global Business Director for Reinforcements states, “We feel confident that the growth in the market and our investment will continue to show JM’s commitment to this industry and to our customers’ plans for growth.”
The new furnace, starting up in the fourth quarter of 2004, will use the latest technology blending North American and European expertise. The furnace will be flexible and can phase in capacity to meet market growth and customer needs. Chuck Griffith, senior vice president of JM’s Engineered Products Group, comments, “We feel that this is a fast-growing market and a prudent investment at the right time. We are committed to meeting our customers requirements and developing innovative products together.“
Factors influencing Johns Manville’s investment in the Trnava facility include Slovakia’s ideal central European location, skilled labor force and attractive cost position. Set to enter the European Union in 2004, Slovakia has attracted many companies in the automotive, industrial and infrastructure industries. Automotive OEM’s and many Tier I and II suppliers have moved or will be moving their manufacturing operations to Slovakia and other Central Eastern European countries over the next few years.
“With our commitment to innovative growth and the powerful backing of Berkshire Hathaway, the JM Reinforcements business is set to make its mark while supporting the growth agenda of our customers around the world,” said Effing. “It underscores JM’s commitment to growing this capital intensive industry and our drive to enhance customer relationships, product innovation and service excellence.”
Johns Manville, a Berkshire Hathaway company, is a leading manufacturer and marketer of premium-quality building and specialty products. In business since 1858, the Denver-based company has sales in excess of $2 billion and holds leadership positions in all of the key markets that it serves. Johns Manville employs approximately 9,000 people and operates 46 manufacturing facilities in North America, Europe and China. The Engineered Product Group (EPG), one of Johns Manville’s four strategic business units, produces glass fibers, glass fiber nonwovens, polyester spunbond nonwovens, glass air media, meltblowns and glass textiles at 15 manufacturing locations worldwide. Additional information can be found at www.jm.com.
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