15 April 1999: Owens Corning is running a 60,000-tons/year glass-fibre plant in South Korea set up through the establishment of LG Owens Corning, a joint venture with LG (South Korea).
Recently, the …
15 April 1999: Owens Corning is running a 60,000-tons/year glass-fibre plant in South Korea set up through the establishment of LG Owens Corning, a joint venture with LG (South Korea). Recently, the company acquired a majority share interest in the venture, changed it“s name to Owens Corning Korea, and enhanced product quality control in order to strengthen its capacity to supply makers of polycarbonate resin. The worldwide market for glass fibres is estimated at 2.3 million tons/year, of which Japan accounts for 300,000 tons/year. Advantex glass, a product developed by Owens Corning, is being increasingly adopted for electronics products. To cope with this Asian demand primarily in Japan, Owens Corning decided to build a 30,000-tons/year Advantex glass plant in India. The company set up a local joint venture with Indian conglomerate Mahindra & Mahindra and funnelled US$ 100 million into the project in the vicinity of Mumbai. Following plant completion last September and subsequent testing, the facility recently was brought fully online. This project has boosted Owens Corning“s total Asian glass fibre manufacturing capacity to 90,000 tons/year and solidified the firm“s position as the region“s largest maker. The company now produces glass fibre roving and chopped-strand mat in India, and E-glass fibre roving and chopped-strand and chopped-strand mat in South Korea.