Expects to Improve Vehicle Fleet MPG by 18 Percent
TOLEDO, Ohio, June 26 /PRNewswire-FirstCall/ -- Owens Corning (NYSE:
OC), a world leader in building materials systems and glass fiber
reinforcements, announced today that it has begun to systematically measure
and reduce greenhouse gas emissions from its vehicle fleet.
Owens Corning joined the PHH GreenFleet program developed by PHH Arval
and Environmental Defense Fund in an effort to reduce fuel consumption and
operating costs, improve efficiency and reduce emissions from vehicle
fleets used by its North American sales force.
"We're committed to greening our operations around the world in every
area of our business to achieve specific environmental footprint reductions
and reduce operating costs," said Frank O'Brien-Bernini, chief
sustainability officer for Owens Corning. "Reducing the emissions of our
vehicle fleet allows us to achieve both of these goals simultaneously."
Through PHH GreenFleet, Owens Corning established a greenhouse gas
baseline and incorporated more efficient vehicles into the fleet. Early
steps included eliminating the company's least-efficient vehicles, "right
sizing" trucks and sport utility vehicles, and incorporating more
front-wheel drive and four-cylinder engine vehicles. Owens Corning expects
to increase fleet average miles-per-gallon (MPG) by 18 percent, reduce
greenhouse emissions by 15 percent and reduce projected operating costs by
8 percent.
"Through the leadership of Owens Corning and other fleets participating
in the PHH GreenFleet program, we are demonstrating that green business and
good business go hand-in-hand," said George Kilroy, president and chief
executive officer of PHH Arval. "Fleets interested in minimizing their
environmental impact should look to these companies for examples of the
best practices in reducing cost and emissions."
The PHH GreenFleet program is designed to help companies
cost-effectively measure, reduce and offset their greenhouse gas emissions,
and PHH clients utilizing the program have achieved, on average, a 14
percent reduction. Participation includes: in-depth analysis and
recommendations to improve efficiency and reduce greenhouse gas emissions;
quarterly measurement and reporting of emissions; and resources to offset
remaining emissions.
"The trend towards measuring and reducing emissions from vehicle fleets
is a great success story for the environment and for corporate America,"
said Tom Murray, managing director of corporate partnerships at
Environmental Defense Fund. "We applaud Owens Corning for their leadership
in demonstrating that it pays to drive green."
About Owens Corning
Owens Corning (NYSE: OC) is a leading global producer of residential
and commercial building materials, glass fiber reinforcements and
engineered materials for composite systems. A Fortune 500 company for 54
consecutive years, Owens Corning is committed to driving sustainability
through delivering solutions, transforming markets and enhancing lives.
Founded in 1938, Owens Corning is a market-leading innovator of glass fiber
technology with sales of $5 billion in 2007 and 19,000 employees in 26
countries on five continents. Additional information is available at
http://www.owenscorning.com .
About Environmental Defense Fund
A leading national nonprofit organization, Environmental Defense Fund
represents more than 500,000 members. Since 1967, Environmental Defense
Fund has linked science, economics, law and innovative private-sector
partnerships to create breakthrough solutions to the most serious
environmental problems. For more information, visit http://www.edf.org .
About PHH Arval
PHH Arval, a subsidiary of PHH Corporation (NYSE: PHH), is a leading
fleet management services provider in the United States and Canada. PHH
Arval provides outsourced fleet management solutions to corporate clients,
including nearly one-third of the Fortune 500 companies. Through
consultative expertise, flexible customer service, and award-winning
Internet technology, PHH Arval helps clients reduce costs and increase
productivity. For more information, visit http://www.phharval.com , or call 800
ONLY PHH.
SOURCE Owens Corning
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Related links:
http://www.owenscorning.com
http://www.edf.org http://www.phharval.com
http://www.prnewswire.com/comp/677350.html /
CONTACT:
Media, Jason Saragian, +1-419-248-8987, or
Investors, Scott Deitz, +1-419-248-8935, both of Owens Corning;
or Melanie Janin of Environmental Defense Fund, +1-202-572-3240;
or Pilar Page of PHH Arval, +1-410-771-2733
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