Content about Company Affiliates

Johns Manville (JM), a Berkshire Hathaway company and global building products manufacturer, has announced that Todd Raba, Johns Manville chairman, president and CEO, will relinquish his position with the company, effective immediately. Mary Rhinehart will become the new president and CEO of Johns Manville.

Pacific States Industries, a California-based forest products and building materials company, acquired the privately owned Hoquiam Plywood Co. of Hoquiam, Wash. 

The Hoquiam facility is known for its premium plywood sheathing. Operations at the western Washington facility will come under the direction of Pacific States Plywood (PSP), headquartered in Springfield, Ore.

Sears Canada is closing three downtown stores in Vancouver, Calgary and Ottawa. The move follows an announcement last month by Sears Holdings, the majority owner of Sears Canada, that it will raise about $770 million by spinning off parts of its business and selling prime real estate.

International Paper (IP) has announced the completed acquisition of Temple-Inland, which will now become a wholly owned subsidiary of IP. Under the terms of the transaction, each issued and outstanding share of Temple-Inland common stock will fetch $32.00 in cash, including the assumption of approximately $700 million in Temple-Inland net debt. The total transaction value is approximately $4.5 billion.

On its first day of trading on the Nasdaq Capital Market under the symbol "OSH," Orchard Supply Hardware fell $1.47 to close at $23.55.

It was a lackluster day for the company's stock, but the San Jose, Calif.-based hardware chain is eager to begin corporate life as an independent publicly traded company, said CEO Mark Baker.

The retailer completed its spin-off from Sears Holdings Dec. 30 at 11:59 p.m. 

Fortune Brands Home & Security (FBHS), which intends to spin off from Fortune Brands today, named John Morikis to the company's board of directors, effective Dec. 1.

Morikis is president and chief operating officer of The Sherwin-Williams Co., an $8 billion global leader in the paint and coatings industry. He was elected COO of Sherwin-Williams in 2006.

John H. Myers, a six-unit chain of LBM outlets located throughout south central Pennsylvania and Northern Maryland, has joined US LBM Holdings as its seventh division.

Revenues for Myers, No. 99 on the HCN Pro Dealer Scoreboard, topped $55 million in 2010, and the company is on track to exceed that pace in 2011, according to the announcement. The company also operates showrooms featuring kitchens, flooring, windows, doors and other products for the custom and regional builder, remodeler and consumer.

Hoffman Estates, Ill.-based Sears Holdings Corp. said it plans to spin off its interest in Orchard Supply Hardware Stores, an 89-store chain that operates in California.

Orchard Supply Hardware -- also known as OSH -- recently named Mark Baker, a former top merchant at The Home Depot, as its CEO. OSH is based in San Jose and posted $660.7 million in sales in 2010, with a profit of $8.7 million.

Deerfield, Ill.-based Fortune Brands announced that its Fortune Brands Home & Security business has filed an initial Form 10 Registration Statement with the Securities & Exchange Commission in connection with its proposed spinoff from Fortune Brands.  

The spinoff is part of the company’s proposed plan to separate its three businesses by spinning off Home & Security in a tax-free transaction, selling or spinning off its Acushnet golf business, and remaining a pure-play spirits company to be named Beam. 

Saint-Gobain Performance Plastics (SGPPL) has announced the appointment of Adam Burnett to the position of business development manager, acoustics for the company’s Green Glue Noiseproofing product.

Burnett will be responsible for the production of the Green Glue Noiseproofing System and developing new applications and distribution channels for its technologies.

Moline, Ill.-based Deere & Co. announced it has completed the sale of its wind energy business, John Deere Renewables, to Chicago-based Exelon Generation Company, a wholly owned subsidiary of Exelon Corporation.

The sale was completed Dec. 10 and consisted of 36 wind projects in eight states- generating 735 operating megawatts of clean, renewable energy- enough to power 160,000 to 220,000 households.