5 February 1998: US-based Owens Corning has undertaken a massive restructuring programme, with costs estimated at US$ 250 million, in effort to cope with the effects of a price war in the plastics ins…
5 February 1998: US-based Owens Corning has undertaken a massive restructuring programme, with costs estimated at US$ 250 million, in effort to cope with the effects of a price war in the plastics insulation and composite materials sectors. Forecast for 1997 performance suggest profit per share of US$ 3 compared with US$ 3.7 previously suggested. As part of the restructuring plan, the workforce will be reduced by 9% over the fourth quarter of 1997 as well as in the first quarter in 1998