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4-Traders Homepage  >  Equities  >  Nyse  >  Owens Corning    OC

Delayed Quote. Delayed  - 07/28 08:11:17 pm
54.01 USD   +2.52%
02:11p OWENS CORNING : Shows Significant Progress with Reducing Footprint a..
02:03p OWENS CORNING : Publishes 2015 Sustainability Report, Demonstrating ..
01:07p OWENS CORNING : sales up 11% in 2nd quarter
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Owens Corning : Shows Significant Progress with Reducing Footprint and Expanding Handprint

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07/28/2016 | 02:11pm CEST

Owens Corning (NYSE: OC) announced significant progress in reducing its environmental footprint and increasing the handprint efforts that advance its positive impact around the world. The company released these results today in its tenth annual sustainability report.

“‘Expanding our impact through sustainability’ is a core value of the company,” said Vice President and Chief Sustainability Officer Frank O'Brien-Bernini. “At Owens Corning, the foundation of our sustainability strategy is built on financial strength, environmental stewardship, great and relevant products, innovative thinking, and sustainable talent. We recognize that – to be truly sustainable – we must  expand our handprint through our strategies and actions.”

The report highlights progress of the past year against four strategic sustainability pillars:

  • Operations sustainability
  • Product and supply chain sustainability
  • Energy efficiency and durable material solutions at scale
  • Safety, health, employee engagement, and community vitality

"After meeting our 2020 greenhouse gas reduction goal in 2015, we set more ambitious goals, using  science-based target setting methodologies, to align with what the world needs to successfully limit climate impact. We made further progress toward these goals by completing major wind energy purchase agreements totaling 250 megawatts and adding a 2.4 megawatt solar canopy to our world headquarters. We’re committed to sustaining this momentum for the benefit of our company and the planet,” O’Brien-Bernini said.

Highlights of 2015 sustainability progress include:

Operations Sustainability

  • Set more ambitious 2020 greenhouse gas and toxic air emissions reduction goals at 50 percent and 75 percent, respectively, since the original 2020 targets were both met ahead of schedule
  • Entered into purchase agreements for 250 megawatts of new wind energy capacity, the construction of which will use significant Owens Corning glass-reinforced composites. These agreements are among the leading industrial renewable energy supply agreements in the world

Product and Supply Chain Sustainability

  • Achieved our 2015 goal to have life cycle assessments and/or environmental product declarations completed on all core products
  • Dedicated a new non-woven glass fiber fabrics plant to produce formaldehyde-free products
  • Recycled  2.5 billion pounds of end-of-life shingles through our networks and 1.4 billion pounds of glass in our operations

Energy Efficiency and Durable Material Solutions at Scale

  • Collaborated with builders across North America to incorporate building-science expertise in building cost-effective, energy efficient homes, including a growing number of net zero-energy homes  
  • Innovated with leading professionals in commercial building enclosure design and construction to create high efficiency, durable solutions

Safety, Health, Employee Engagement and Community Vitality

  • Reduced employee recordable injuries by 7 percent year-over-year
  • Partnered with global non government organizations (NGOs) to deliver clean drinking water systems in India and completed Habitat for Humanity builds in China
  • Provided volunteers, products, and financial support to Habitat for Humanity and Make it Right to help 1,600 families in North America obtain safe, affordable, energy-efficient housing

“We’re proud of our progress and excited about the opportunities for continued progress through collaboration up and down the supply chain, from additional energy efficiency and renewable energy to more sustainable product offerings, to larger-scale recycling penetration, to employee and family wellness and more. We have 16,000 people around the world committed to making the world a better place,” O’Brien-Bernini said.

Owens Corning's 2015 Sustainability Report is consistent with Global Reporting Initiative (GRI) guidelines known as GRI-G4. GRI's Sustainability Reporting Guidelines set a globally applicable framework for reporting the economic, environmental and social dimensions of an organization's activities, products and services.

About Owens Corning

Owens Corning (NYSE: OC) develops, manufactures and markets insulation, roofing, and fiberglass composites. Global in scope and human in scale, the company’s market-leading businesses use their deep expertise in materials, manufacturing and building science to develop products and systems that save energy and improve comfort in commercial and residential buildings. Through its glass reinforcements business, the company makes thousands of products lighter, stronger and more durable. Ultimately, Owens Corning people and products make the world a better place. Based in Toledo, Ohio, Owens Corning posted 2015 sales of $5.4 billion and employs about 16,000 people in 25 countries. It has been a Fortune 500® company for 62 consecutive years.

Media Contact:
Chuck Hartlage
419-248-5395

Read the Report

Copyright 2016, 3BL Media LLC, source Corporate Responsibility

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Financials ($)
Sales 2016 5 597 M
EBIT 2016 650 M
Net income 2016 353 M
Debt 2016 1 764 M
Yield 2016 1,41%
P/E ratio 2016 17,30
P/E ratio 2017 14,89
EV / Sales 2016 1,40x
EV / Sales 2017 1,27x
Capitalization 6 084 M
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Mean consensus HOLD
Number of Analysts 21
Average target price 54,1 $
Spread / Average Target 2,7%
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Michael H. Thaman Chairman, President & Chief Executive Officer
Michael C. McMurray Chief Financial Officer & Senior Vice President
Steven Zerby Chief Information Officer & Vice President
James J. McMonagle Independent Director
W. Howard Morris Independent Director
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