News Flash

Owens Corning completes acquisition of Saint-Gobain

05 Nov '07

3 min read

The proposed expansion is designed to increase the company's capabilities at its newly acquired Hangzhou, China, and Gous-Khroustalny, Russia, plants within the next two years. It is the first step in a multi-phase plan to increase production of glass reinforcements and composite fabrics in these countries by 2010. The size and cost of the planned capacity additions were not announced. These investments will be subject to all necessary corporate and regulatory approvals.

"The market for glass-reinforced composite materials is growing 5 to 7 percent per year globally and even faster in developing countries such as China and Russia, and in Eastern Europe," said Chuck Dana, president of Owens Corning's Composite Solutions business.

"Expanding our production platforms in China and Russia will position Owens Corning's Composites organization to serve a growing and diverse customer base in Asia and Eastern Europe with industry-leading products for key markets such as infrastructure, construction, automotive, electronics, and consumer goods," said Mr. Dana. "This is just one example of how this acquisition allows us to enhance our presence in growing markets around the world to create meaningful value for customers."

The expansion will incorporate the company's most advanced technologies including its patented Advantex and advanced glass-melting technology platforms. These technologies bring world-class energy efficiency and emissions control, while providing customers with unique product benefits including corrosion resistance and high strength.

Owens Corning

More Owens Corning News... More Textiles News - Belgium...