Owens Corning and IKO Industries agreed to invest US$ 50 million to build a glass fibre mat plant facility in Danville, Illinois.
In a recent press release, Owens Corning said the facility, with a st…
Owens Corning and IKO Industries agreed to invest US$ 50 million to build a glass fibre mat plant facility in Danville, Illinois. In a recent press release, Owens Corning said the facility, with a start-up scheduled for June 2001, will be called Fiberteq LLC and is a 50/50 venture between Owens Corning and IKO Industries. Fiberteq will make wet-formed glass fibre mat used mainly in the production of asphalt roofing shingles. Owens Corning said the plant, when fully operational, will have an estimated capacity of 90 million csf, or hundred square feet. New York Stock Exchange-listed shares of Owens Corning recently traded at 20 3/16, up 13/16 or 4.2%, on composite volume of 144,100 shares, compared with average daily volume of 561,586 shares.