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Johns Manville 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.” Skloplast is a leading Central European producer of fiber glass materials. Its products are used principally in fiber glass reinforced plastics for the construction and transportation industries, and are primarily exported to Western Europe. The company employs about 1,200 people and had 1999 sales in excess of US$50 million. Included in the sale is one operation located in Trnava, Slovakia. Skloplast is wholly owned by Glasplast a.s., a majority of which Johns Manville is acquiring in this transaction. Johns Manville is a leading manufacturer and marketer of premium-quality building products. The 142-year-old Denver-based company had sales of $2.2 billion in 1999. Johns Manville employs approximately 9,700 people and operates 55 manufacturing facilities in North America, Europe and China. Additional information can be found at www.jm.com.
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