Owens Corning : to Invest in European Composites Operations

Owens Corning (NYSE: OC) has announced plans to invest $50 million to rebuild a glass melter and expand production capacity by approximately 25 percent at its Chambéry, France, composites manufacturing facility. The investment will support the growing demand for thermoplastics in Europe. The state-of-the-art melter is expected to be operational by mid-2018.

'This investment will support our customers' growth in the thermoplastic chopped strand market by ensuring that we continue providing consistent, high-quality products,' said Umberto Rigamonti, Owens Corning's Vice President and Managing Director of Glass Reinforcements Europe and Global Thermoplastic Products. 'Our Composites business benefits from a strong global footprint, R&D centers in five countries, and assets available and committed to support the increasing adoption of composites. The strategic investment in Chambéry strengthens our value proposition to thermoplastic customers, supporting our respective growth agendas.'

After the rebuild, all thermoplastic chopped strand products from the Chambéry facility will be based on boron-free Advantex glass. Advantex glass contributes to decreased emissions and reduces the environmental impact of manufacturing fiberglass, compared to standard E-glass. Advantex also provides superior performance in composites-facing corrosive environments when compared to E-glass.

In recent years, Owens Corning has invested in facilities and alliances to grow with and support the global and regional thermoplastics markets. In addition, the company has leveraged its innovation resources to steadily launch products that are driving the adoption of thermoplastic polymers and technologies.

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 2016 sales of $5.7 billion and employs 17,000 people in 33 countries. It has been a Fortune 500 company for 63 consecutive years. For more information, please visit www.owenscorning.com.