TOLEDO, Ohio, Sept. 7 /PRNewswire-FirstCall/ -- Owens Corning (NYSE:
OC) has signed a definitive agreement to sell its CFM (Continuous Filament
Mat) business in Huntingdon, Penn., as well as related marble production
assets in Anderson, S.C., to AGY, a leading global producer of fiberglass
yarns and high-strength fiberglass reinforcements used in a wide variety of
composites applications. Terms were not disclosed.
Owens Corning previously announced that it planned to sell composite
manufacturing facilities located in Battice, Belgium; Birkeland, Norway;
and Huntingdon, Penn. The divestitures are intended to address regulatory
concerns associated with Owens Corning's proposed acquisition of
Saint-Gobain's Reinforcement and Composites business.
The divestiture is subject to regulatory approval, and is expected to
close during the fourth quarter of this year.
About Owens Corning
Owens Corning (NYSE: OC) is a world leader in building materials
systems and composite solutions. A Fortune 500 company for 53 consecutive
years, Owens Corning people redefine what is possible each day to deliver
high-quality products and services ranging from insulation, roofing and
masonry products, to glass composite materials used in transportation,
electronics, telecommunications and other high-performance applications.
Founded in 1938, Owens Corning is a market-leading innovator of glass fiber
technology with sales of $6.5 billion in 2006 and operations in 26
countries. Additional information is available at http://www.owenscorning.com.
About AGY
AGY serves a diverse range of markets including aerospace and defense,
electronics, construction and industrial. Headquartered in Aiken, S.C.
(USA), AGY has a European office in Lyon, France, and manufacturing
facilities in Aiken, S.C., and Huntingdon, Penn. Additional information may
be found at the company's website, http://www.agy.com, or by email at
info@agy.com.
SOURCE Owens Corning
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Related links:
http://www.owenscorning.com
http://www.agy.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
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