8 April 1999: Owens Corning, a producer of building materials and glass fibre composites systems, has announced plans to invest US$ 25 million to install a continuous filament mat line (CFM) at its pl…
8 April 1999: Owens Corning, a producer of building materials and glass fibre composites systems, has announced plans to invest US$ 25 million to install a continuous filament mat line (CFM) at its plant in Guelph, Ontario, Canada. The move is part of series of recent actions expanding the company“s global market presence to serve customer needs. “We are committed to the growth of the composites industry and have made several large investments, such as the CFM line in Guelph, to support this commitment,” said Heinz Otto, president, Composites Systems Business. “With this increase in capacity, we will be better able to service the needs of our customers worldwide.” The new line in Guelph will add approximately 8,000 metric tonnes of CFM capacity and is expected to be operational in the first quarter of 2000. The investment follows recent increases of CFM capacity at Owens Corning facilities in Battice, Belgium, and Huntingdon, Penn. “During the last year, we have seen growing demand for CFM, primarily in pultrusion and resin transfer moulding processing, and we are expanding our offerings to meet customer needs,” said Bruce Fawcett, general manager, Thermoset Processors, Owens Corning. In addition to this North American investment, Owens Corning recently increased its direct presence in Asia Pacific by increasing from 30% to 70% the company“s ownership in a joint venture now called Owens Corning Korea; and dedicating a state-of-the-art manufacturing facility in India. The company also established direct presence in Australia by establishing sales and warehousing capabilities there. The company had 1998 sales of US$ 5 billion and employs approximately 20,000 worldwide.