Johns Manville Industrial Insulation Group and Cabot Corporation Partner to Produce High-Performance Insulation for Subsea Market
By Business Wire News
By Business Wire News
Johns Manville Industrial Insulation Group (IIG) and Cabot Corporation reached an agreement that will enable IIG to produce and market thin, high-performance insulation in the subsea market, using Cabot’s proprietary technology and aerogel products.
This strategic agreement positions Industrial Insulation Group to further expand its market reach into the subsea market and provide additional insulation solutions to its oil & gas customers.
Fred Stephan, Senior Vice President and General Manager of Johns Manville’s Insulation Systems business, said that he believes the agreement will provide strategic opportunities for both Cabot Corporation and IIG.
“Our relationship with Cabot Corporation is an important step toward enhancing our product portfolio in response to our customers’ growing need for thin, high-performance insulation in the subsea and other markets,” Stephan said. “We are excited to expand our ability to provide insulation solutions to our oil and gas customers for the international market,” he concluded.
“We are pleased to have completed this arrangement with Johns Manville’s Industrial Insulation Group. As a leading manufacturer of aerogel for thermal insulation solutions in high-temperature industrial applications, we believe that they will be able to expand and accelerate the future growth potential of our Compression Pack technology in the subsea market,” said Nicholas Cross, Executive Vice President and President, Performance Chemicals segment for Cabot Corporation. “This arrangement also aligns with our growth strategy for our aerogel business, enabling us to focus on our core technology of providing aerogel particles. We expect that Industrial Insulation Group will be able to capitalize on the high-performance insulation functionality delivered by our aerogel to broaden their portfolio of products, applications and markets.”
ABOUT JOHNS MANVILLE and the INDUSTRIAL INSULATION GROUP (IIG)
Industrial Insulation Group (IIG) is a wholly-owned subsidiary of Johns Manville (JM), a manufacturer of construction materials for over 155 years. Johns Manville, a Berkshire Hathaway company (NYSE: BRK.A, BRK.B), is a leading manufacturer and marketer of premium-quality products for building insulation, mechanical insulation, commercial roofing, and roof insulation, as well as fibers and nonwovens for commercial, industrial and residential applications. JM serves markets that include aerospace, automotive and transportation, air handling, appliance, HVAC, pipe and equipment, filtration, waterproofing, building, flooring, interiors and wind energy. In business since 1858, the Denver-based company has annual sales of approximately $2.6 billion and holds leadership positions in many of the key markets that it serves. JM employs approximately 7,000 people and operates 44 manufacturing facilities in North America, Europe and China. Additional information can be found at www.jm.com.
ABOUT CABOT AEROGEL
Cabot aerogel is the lightest and best insulating solid in the world. Our aerogel is a hydrophobic, silica-based particle consisting of more than 90 percent air, contained in a structure that inhibits heat transfer, for unmatched insulation performance. Its porous structure enables it to be used in a variety of thermal insulation and specialty chemical applications. Our LUMIRA® and ENOVA® aerogel product lines enable a wide range of product forms and applications, including building and industrial insulation, plasters, daylighting systems, reinforcing composites, tensile roofing and thermal insulation coatings. Cabot certifies it has completed the EU REACH pre-registrations required for all Cabot aerogel products.
ABOUT CABOT CORPORATION
Cabot Corporation (NYSE: CBT) is a global specialty chemicals and performance materials company, headquartered in Boston, Massachusetts. The company is a leading provider of rubber and specialty carbons, activated carbon, inkjet colorants, cesium formate drilling fluids, fumed silica, and aerogel. For more information on Cabot, please visit the company’s website at: http://www.cabotcorp.com.
Holly Leiker, 303-475-1690