Owens Corning Announces Acquisition of Thermafiber Inc. Transaction Expands Company's Commercial and Industrial Insulation Product Portfolio
TOLEDO, Ohio, June 3, 2013 /PRNewswire/ -- Owens Corning (NYSE: OC) today announced that it has completed the acquisition of Thermafiber Inc., a leading manufacturer of mineral wool commercial and industrial insulation products.
The acquisition, which includes a 145,000-square-foot manufacturing location in Wabash, Ind., provides Owens Corning with a broad insulation portfolio now encompassing fiberglass, foam, and mineral wool insulation products.
"The acquisition of Thermafiber is an outstanding addition for Owens Corning and our customers," said Joe Ochoa, vice president and general manager, Engineered Insulation Systems. "Mineral wool insulation adds to our product portfolio and helps us to provide access to high-temperature commercial building applications.
"Over the past 75 years, Owens Corning has earned a strong reputation for building science and sustainability, and we look forward to applying this expertise to benefit customers who pursue mineral wool insulation applications," he added.
Thermafiber's insulation products support fire block, fire blankets, and curtain wall applications spanning the commercial, residential, and industrial markets. Thermafiber insulation contains up to 90 percent recycled content and is non-combustible, inorganic and mold-resistant. Thermafiber products provide fire protection, sound control and energy conservation, and are installed in six of the 12 tallest buildings in the world, including One World Trade Center in New York City and the Burj Khalifa tower in Dubai.
About Owens Corning
Owens Corning (NYSE: OC) is a leading global producer of residential and commercial building materials, glass-fiber reinforcements and engineered materials for composite systems. A Fortune® 500 Company for 59 consecutive years, Owens Corning is committed to driving sustainability by delivering solutions, transforming markets and enhancing lives. Celebrating its 75th anniversary in 2013, Owens Corning is a market-leading innovator of glass-fiber technology with sales of $5.2 billion in 2012 and approximately 15,000 employees in 27 countries on five continents. Additional information is available at www.owenscorning.com.
(Owens Corning Investor News)
SOURCE Owens Corning