TOLEDO, Ohio, Aug. 2, 2011 /PRNewswire/ -- Owens Corning (NYSE:
OC) today announced that it has completed the acquisition of
FiberTEK Insulation, LLC, and FiberTEK Insulation West, LLC.
The acquisitions include manufacturing locations in Lakeland, Fla., and Nephi, Utah, and expand Owens Corning's
loosefill insulation capacity, while strengthening the company's
ability to serve North American loosefill customers.
Loosefill, or "blown-in" insulation, is preferred due to the
increased penetration of higher efficiency building codes, which
require increased levels of attic insulation, and for its ease of
use in energy efficiency retrofitting. The unbonded loosefill
insulation product line has grown its share of overall U.S. light
density residential fiberglass insulation sales in recent years to
become a bright spot amid the broader downturn in U.S. residential
construction.
"The acquisition of the FiberTEK companies is a great addition
for Owens Corning and our customers," said Tom Quigley, vice president and general manager,
Residential Insulation. "These acquisitions position Owens
Corning to serve our customers in this segment as the market
returns. They also benefit existing FiberTEK customers by
making available our entire array of insulation products, including
our revolutionary EcoTouch™ family of high-performance residential
and light commercial insulation products."
The FiberTEK acquisitions will also enable Owens Corning to
expand growth opportunities for its EnergyComplete™ Insulation and
Air Sealing System.
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 57 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 $5.0 billion
in 2010 and approximately 15,000 employees in 28 countries on five
continents. Additional information is available at:
www.owenscorning.com.
SOURCE Owens Corning