Johns Manville to Acquire HPG’s Roofing Business

DENVER, July 29 /PRNewswire/ — Johns Manville Corporation

announced today it has reached agreement to acquire the roofing business

of HPG International, Inc. The transaction is expected to be completed

in the third quarter of this year and is subject to regulatory

clearance.

“The HPG acquisition allows us to enter one of the fastest

growing segments in the roofing business — thermoplastics,” said

Jerry Henry, Johns Manville’s chairman and chief executive officer.

“This acquisition is a strong first step into this important

segment and strengthens our position in single ply roofing

products.”

“HPG brings with it a blue chip customer base and a seasoned

sales team to further enhance our core competency in commercial and

industrial roofing systems,” added Tom Caltrider, senior vice

president, Roofing Systems Group. “More than 300 million square

feet of reinforced thermoplastic membranes are installed on new

construction and retrofit applications each year.”

Jack Dellevigne, chief executive officer of HPG, stated “We

are pleased with the transaction and look forward to moving strongly

ahead in our non- roofing plastics business and to our continuing

relationship as a supplier of PVC roofing materials to Johns

Manville.”

Headquartered in Somerset, N.J., HPG International, Inc. is a

privately held plastic materials manufacturer and produces a broad

product line of reinforced thermoplastic roofing systems. HPG also

manufacturers calendered PVC as well as extruded PVC and polyolefin

products for various industrial applications. HPG was recently ranked

as the 13th largest producer of plastic sheet products in the United

State by the Plastic News.

Johns Manville Corporation is a leading manufacturer of

insulation and building products. The 139-year-old Denver-based company

had sales of $1.6 billion in 1996. Johns Manville produces and markets

insulation products for buildings and equipment; commercial/industrial

roofing systems; and engineered products including high-efficiency

filtration media, and fibers and nonwoven mats used as reinforcements in

building and industrial applications. Johns Manville employs

approximately 8,100 people and operates 52 manufacturing facilities in

North America, Europe and China. Additional information about Johns

Manville can be found on its homepage on the world wide web at

http://www.jm.com.

SOURCE Johns Manville Corporation

-0- 07/29/97 R

/CONTACT: John Cummings for Johns Manville, 303-978-4914/

/Johns Manville press releases are available through Company News

On-Call by fax, 800-758-5804, extension 527775, or at

http://www.prnewswire.com/

(JM)

CO: Johns Manville Corporation; HPG International, Inc. ST:

Colorado, New Jersey IN: CST CHM SU: TNM

CW-KS — LAW001A — 1673 07/30/97 06:01 EDT http://www.prnewswire.com

http://www.thefreelibrary.com/JohnsManvilletoAcquireHPG’sRoofingBusiness-a019629054

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