Owens Corning Sells Huntingdon CFM Business
September 07 2007 - 5:52PM
PR Newswire (US)
TOLEDO, Ohio, Sept. 7 /PRNewswire-FirstCall/ -- Owens Corning
(NYSE:OC) has signed a definitive agreement to sell its CFM
(Continuous Filament Mat) business in Huntingdon, Penn., as well as
related marble production assets in Anderson, S.C., to AGY, a
leading global producer of fiberglass yarns and high-strength
fiberglass reinforcements used in a wide variety of composites
applications. Terms were not disclosed. Owens Corning previously
announced that it planned to sell composite manufacturing
facilities located in Battice, Belgium; Birkeland, Norway; and
Huntingdon, Penn. The divestitures are intended to address
regulatory concerns associated with Owens Corning's proposed
acquisition of Saint-Gobain's Reinforcement and Composites
business. The divestiture is subject to regulatory approval, and is
expected to close during the fourth quarter of this year. About
Owens Corning Owens Corning (NYSE:OC) is a world leader in building
materials systems and composite solutions. A Fortune 500 company
for 53 consecutive years, Owens Corning people redefine what is
possible each day to deliver high-quality products and services
ranging from insulation, roofing and masonry products, to glass
composite materials used in transportation, electronics,
telecommunications and other high-performance applications. Founded
in 1938, Owens Corning is a market-leading innovator of glass fiber
technology with sales of $6.5 billion in 2006 and operations in 26
countries. Additional information is available at
http://www.owenscorning.com/. About AGY AGY serves a diverse range
of markets including aerospace and defense, electronics,
construction and industrial. Headquartered in Aiken, S.C. (USA),
AGY has a European office in Lyon, France, and manufacturing
facilities in Aiken, S.C., and Huntingdon, Penn. Additional
information may be found at the company's website,
http://www.agy.com/, or by email at . DATASOURCE: Owens Corning
CONTACT: Media, Jason Saragian, +1-419-248-8987, or Investors,
Scott Deitz, +1-419-248-8935, both of Owens Corning Web site:
http://www.owenscorning.com/ http://www.agy.com/ Company News
On-Call: http://www.prnewswire.com/comp/677350.html
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