Owens Corning to Expand Production at Tlaxcala, Mexico, Glass Reinforcements Facility New Investment will Double Production in Support of Increasing Global Demand
TOLEDO, Ohio, March 22, 2011 /PRNewswire/ -- Owens Corning (NYSE: OC), a leading global producer of glass fiber reinforcements for composite systems and residential and commercial building materials, announced today that it is investing in the construction of a new furnace to expand production capacity at its Tlaxcala, Mexico, glass reinforcements facility.
The expansion, which supports increasing global demand for glass reinforcements, is the fourth production capacity increase announced by the reinforcements division of the company in recent months. Capacity increases were also recently announced in Yuhang, China; Gous-Khroustalny, Russia; and Besana, Italy.
Scheduled to begin construction this month, the new furnace is expected to be operational in early 2012, at which time it will more than double production capacity at the Tlaxcala facility. The expansion will support increased production of Owens Corning's corrosion-resistant Advantex® glass and will produce assembled roving and dry-use chopped strands.
"The steady growth in demand for these products, coupled with favorable pricing in the marketplace is driving a positive expected return on the investment in our Tlaxcala facility," said Marcio Sandri, vice president and managing director for the company's Americas reinforcement business. "We are pleased to be able to support our customers' needs with this latest expansion."
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 56 consecutive years, Owens Corning is committed to driving sustainability by delivering solutions, transforming markets and enhancing lives. Founded in 1938, Owens Corning is a market-leading innovator of glass-fiber technology with sales of $5 billion in 2010 and about 15,000 employees in 28 countries on five continents. Additional information is available at www.owenscorning.com.
SOURCE Owens Corning