Owens Corning completes Japan composite solutions acquisition

Owens Corning informed on 1 May 2006 that it has completed its acquisition of the composites business of the Asahi Fiber Glass Co., Ltd. in Japan, previously announced on 8 December 2005. Terms were n…

Owens Corning informed on 1 May 2006 that it has completed its acquisition of the composites business of the Asahi Fiber Glass Co., Ltd. in Japan, previously announced on 8 December 2005. Terms were not disclosed. “The addition of composite and glass-fiber manufacturing in Japan allows Owens Corning to deliver more value to more customers around the world,” said Chuck Dana, president – Composite Solutions Business. “The products manufactured at this facility will support our global growth by delivering a broader range of composite solutions for the consumer and electrical, building and construction, and infrastructure markets”. The acquisition expands Owens Corning“s product portfolio to include: reinforcements for high-performance thermoplastics; long-fiber thermoplastic compounds for the Asia Pacific market used in light-weight and semi-structural applications; sheet molding compounds for the Japanese market, including high-heat industrial and Class-A applications for automotive and consumer markets; rubber-coated glass-fiber solutions used in engine timing belts for the automotive industry.