Johns Manville

Acquired in 2001, Johns Manville is a leading manufacturer of premium-quality building and specialty products, including fiberglass insulation and commercial roofing.

Business Model

Johns Manville operates in the highly competitive building materials space. Its strength lies in its energy-efficient products and strong relationships with commercial contractors.

Berkshire Acquisition

• Context: The company had previously emerged from a complex bankruptcy related to asbestos liabilities. By 2001, it was a clean, profitable enterprise.
• Rationale: It fit Buffett's "building products" basket along with Acme Brick and Benjamin Moore.

Quotes

"Johns Manville is a huge, solid business with a fine management team led by Jerry Henry." — 2001 Letter