John Manville Corporation
1.0 Introduction
1.1 Johns Manville Corporation’s Background
Johns Manville Corporation (JM) operates as a leading manufacturer and marketer of insulation products for buildings and equipment, roofing systems, and various engineered products, including fibers, fabric and nonwoven mats, and filtration media. The company has 55 manufacturing facilities in North America, Europe, and China. Until the mid-1980s, JM mined and sold asbestos for use in insulation, building, aerospace, automotive, and other industries.
The company divested itself of its interests in all asbestos-related businesses but remained involved in substantial litigation brought by asbestos workers with claims based on the effects of working with the material. In 1927, the company went public as the Johns Manville Corporation and later started producing asbestos products for the U.S. war effort. The government mandated that asbestos products be used to insulate Navy vessels in 1945, and Johns Manville produced a number of insulating products with a mixture of asbestos and silica.
In 1958, Johns Manville branched out into fiberglass. The company moved its headquarters from New York to Denver, Colorado, in 1972, and two years later became one of the leading U.S. manufacturers of PVC pipe, asbestos cement pipe and fiberglass. However, when thousands of people began developing serious illnesses as a result of asbestos exposure from Johns Manville products and filed lawsuits, the company filed for bankruptcy in 1982. In 1988, the company emerged from bankruptcy and founded the Manville Personal Injury Settlement Trust. Berkshire Hathaway, Inc., acquired Johns Manville in 2001, and today the company produces insulation and construction products. However, its product line is now made with fiber glass and polyurethane. The company has also won awards for its formaldehyde-free insulation.
1.2 Exposures of Asbestos in Manville
Asbestos is a set of six naturally occurring silicate minerals used
1.1 Johns Manville Corporation’s Background
Johns Manville Corporation (JM) operates as a leading manufacturer and marketer of insulation products for buildings and equipment, roofing systems, and various engineered products, including fibers, fabric and nonwoven mats, and filtration media. The company has 55 manufacturing facilities in North America, Europe, and China. Until the mid-1980s, JM mined and sold asbestos for use in insulation, building, aerospace, automotive, and other industries.
The company divested itself of its interests in all asbestos-related businesses but remained involved in substantial litigation brought by asbestos workers with claims based on the effects of working with the material. In 1927, the company went public as the Johns Manville Corporation and later started producing asbestos products for the U.S. war effort. The government mandated that asbestos products be used to insulate Navy vessels in 1945, and Johns Manville produced a number of insulating products with a mixture of asbestos and silica.
In 1958, Johns Manville branched out into fiberglass. The company moved its headquarters from New York to Denver, Colorado, in 1972, and two years later became one of the leading U.S. manufacturers of PVC pipe, asbestos cement pipe and fiberglass. However, when thousands of people began developing serious illnesses as a result of asbestos exposure from Johns Manville products and filed lawsuits, the company filed for bankruptcy in 1982. In 1988, the company emerged from bankruptcy and founded the Manville Personal Injury Settlement Trust. Berkshire Hathaway, Inc., acquired Johns Manville in 2001, and today the company produces insulation and construction products. However, its product line is now made with fiber glass and polyurethane. The company has also won awards for its formaldehyde-free insulation.
1.2 Exposures of Asbestos in Manville
Asbestos is a set of six naturally occurring silicate minerals used