Johns Manville Corp. is making its second foray into the thermoplastic roofing business.
The Denver-based roofing and insulation giant announced Nov. 21 that it reached an agreement to buy Seal-Dry USA Inc. of Little Rock, Ark.
In August, Johns Manville bought HPG International Inc.'s thermoplastic roofing business. Before that purchase, Johns Manville sold only nonplastic roofing systems — an area where it maintains market leadership.
``We like this business,'' Johns Manville spokesman John Cummings said of thermoplastic roofing. ``It was one of the few areas in which we didn't have any products. We had been very much a fiberglass-based business. We're trying to move into a full range of products.''
Seal-Dry is owned by Eastar Inc. of Sandusky, Ohio, which also is a partner in Sandusky Ltd. — a company formed by the union of Sandusky Vinyl Products Corp., Benecke-Kalkiko AG of Eislingen, Germany, and Kyowa Leather Cloth Co. of Hamamatsu, Japan.
Sandusky Ltd. is the main supplier of Seal-Dry's proprietary films. The firm will continue as Seal-Dry's film source after the sale is finalized, Cummings said.
Seal-Dry combines the films with a reinforcing material to create three-ply roofing systems, Jack Givens, Eastar chairman, said Nov. 24. He said the deal is to be finalized in January.
Cummings said it is too early to predict Seal-Dry's future structure, but he noted that the Johns Manville name could be placed on its products while the underlying business remains intact. Terms of the deal were undisclosed.
Recent sales figures for Seal-Dry also were not available. Publicly traded Johns Manville reported $1.55 billion in 1996 sales.