16 April 1998: Owens Corning India has reportedly entered into an agreement with the AIG Indian Sectoral Equity Fund and a member-company of the American International Group (AIG), for the placement o…
16 April 1998: Owens Corning India has reportedly entered into an agreement with the AIG Indian Sectoral Equity Fund and a member-company of the American International Group (AIG), for the placement of equity for its composite plant in Taloja near Mumbai, India. A press statement from Owens Corning stated that after completion of the offer, Owens Corning will hold 50%, Mahindra & Mahindra will hold 26% and the rest will be held by other investors. The cost of the plant is some US$ 100 million, and it is said to be the largest global investment by Owens Corning. The plant is expected to have an initial capacity of 30,000 tonnes per year, which will be expandable to 90,000 tonnes per year. Initially, 75% of the production will be exported, while the rest will be available for the domestic market.Owens Corning India has reportedly entered into an agreement with the AIG Indian Sectoral Equity Fund and a member-company of the American International Group (AIG), for the placement of equity for its composite plant in Taloja near Mumbai, India. A press statement from Owens Corning stated that after completion of the offer, Owens Corning will hold 50%, Mahindra & Mahindra will hold 26% and the rest will be held by other investors. The cost of the plant is some US$ 100 million, and it is said to be the largest global investment by Owens Corning. The plant is expected to have an initial capacity of 30,000 tonnes per year, which will be expandable to 90,000 tonnes per year. Initially, 75% of the production will be exported, while the rest will be available for the domestic market.