The history of Johns Manville dates to 1858 when Henry Ward Johns founded H.W. Johns Manufacturing Company in New York City making asbestos roofing and insulation products, pioneering asbestos use. In 1901, H.W. Johns merged with Manville Covering Company founded by C.B. Manville in 1886 in Milwaukee, forming H.W. Johns-Manville Company, later shortened to Johns-Manville Corporation in 1927, becoming largest asbestos manufacturer in US, producing asbestos insulation, roofing, cement, and brake linings used widely in construction and industry. During World Wars, company supplied military. By mid-20th century, Johns Manville was Fortune 500 company with massive sales, but health risks of asbestos causing asbestosis, mesothelioma, and lung cancer became known, leading to thousands of lawsuits from workers and consumers in 1970s. In 1982, Johns Manville filed for Chapter 11 bankruptcy due to asbestos liabilities, largest bankruptcy in US history at time, creating Manville Personal Injury Settlement Trust to compensate victims with 2.5 billion dollars. Company reorganized in 1988, exiting asbestos business and focusing on fiberglass insulation and roofing. In 2001, Berkshire Hathaway owned by Warren Buffett acquired Johns Manville for 1.8 billion dollars, making it subsidiary, with headquarters moved to Denver, Colorado. Since then, Johns Manville has grown as building products leader with 40 plus plants worldwide, revenue around 3.5 billion, known for fiberglass insulation and commercial roofing, leaving asbestos past behind while managing trust.
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