Owens Corning to sell 2 European manufacturing plants

Owens Corning announced July 17 the planned sale of two glass fiber reinforcement manufacturing facilities in Battice, Belgium, and Birkeland, Norway. The sale is intended to address regulatory concerns associated with the proposed formation of a joint venture between Saint-Gobain's Reinforcement and Composites business (a part of Saint-Gobain known as Vetrotex) and Owens Corning's Reinforcements business.

Owens Corning also announced that the company is in active discussions with Saint-Gobain regarding the potential conversion of the proposed joint venture into an outright acquisition by Owens Corning of Saint-Gobain's Vetrotex business. Should such conversion occur, it is expected that the planned sale of the two manufacturing facilities would go forward in order to address regulatory concerns associated with the acquisition transaction.

Owens Corning is a world leader in building materials systems and composite solutions. A Fortune 500 company for more than 50 years, Owens Corning delivers high-quality products and services ranging from insulation, roofing, siding and manufactured stone veneer, to glass composite materials used in transportation, electronics, telecommunications and other high-performance applications.