Corporate Acquisitions and Developments
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Thermafiber, HQ in Wabash, IN (sold 1998)
We acquired this division of USG in 1996. It had three plants and made mineral wool insulation products. The purchase price was approximately $10m and less than two years later we sold it to a competitor for about a $13m profit.
Fibrex, Joplin, MO (held)
A small mineral wool operation still held.
Porterdale/Broad River Dams
These are two hydroelectric dams developed by the firm in the early 80's using tax exempt bonds to finance the developments. They were sold about 10 years ago.