After announcing a year ago a plan to join two global reinforcements and composites businesses into a joint venture, Toledo-based Owens Corning has decided instead to purchase outright those businesses of Saint-Gobain Vetrotex of France.
After announcing a year ago a plan to join two global reinforcements and composites businesses into a joint venture, Toledo-based Owens Corning has decided instead to purchase outright those businesses of Saint-Gobain Vetrotex of France. The deal, which is expected to close this year, will give Owens Corning 20 more plants in Europe, Asia, and South America, including 14 that produce glass fi bers and eight that make woven and knitted fabrics (including two that make both fibers and fabrics). It will add 1 billion lb/yr of glass reinforcements capacity to Owens Corning’s 1.6 billion lb. The sale does not include the Wichita Falls, Texas, facility of Saint-Gobain, which will be sold separately.