Johns Manville Corp. plans to bolster its presence in polyisocyanurate foam insulation in Canada by acquiring the largest producer there.
Johns Manville said it has agreed to buy Exeltherm Inc. of Cornwall, Ontario, for undisclosed terms. It expects to complete the deal in the second quarter.
Johns Manville of Denver already makes PIR insulation at five U.S. facilities, company spokesman Tom Rafferty said by telephone. The deal will strengthen the firm in the Canadian market and Exeltherm's ISO 9002 certification will help Johns Manville's quality program, he said.
Exeltherm makes PIR foam for commercial, industrial and residential construction. Its 1996 complaint about low-priced, dumped imports from the United States led Canada's government to impose temporary duties on the materials.
Jan Oosterwaal, Exeltherm chief executive officer, said in late 1996 that his firm's sales improved after the Canadian government launched the anti-dumping investigation. Oosterwaal was unavailable for comment after Johns Manville announced its recent plan to acquire his firm.
Rafferty said Exeltherm's products complement Johns Manville's other building products, such as thermoplastic roofing membranes. He said his firm's other plastic operations comprise PVC pipe fittings. Exeltherm will add Johns Manville roofing and other building materials to its distribution system.