TOLEDO, Ohio, Sept. 14, 2012 /PRNewswire/ -- Owens Corning (NYSE: OC), announced today that its new furnace in its Tlaxcala, Mexico, glass reinforcements facility is operational. This is the latest step the company has taken to increase its global capacity to produce composite material. Owens Corning is a leading global producer of glass fiber reinforcements for composite systems and residential and commercial building materials.
"Last year we announced the decision to increase production capacity in our Tlaxcala facility to support the growing needs of our customers and the steady increase in global demand," said Marcio Sandri, vice president and managing director for the company's global glass reinforcements business. "This is aligned with our business strategy to reposition our assets to reduce manufacturing cost in order to continue to provide high quality products to our customers with the most efficient and effective business model."
The Tlaxcala plant expansion will support increased manufacturing of Owens Corning's corrosion-resistant Advantex ® glass and will initially produce assembled roving and dry-use chopped strands. The new furnace more than doubles production capacity at the facility.
"This investment enables us to further leverage our global presence and flexible supply chain to deliver quality product when and where our customers need it," said Sandri. "We are excited to have the expansion of our Tlaxcala facility now operational, and supporting our current and future customers."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 58 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 $5.3 billion in 2011 and about 15,000 employees in 28 countries on five continents. Additional information is available at www.owenscorning.com. SOURCE Owens Corning
Check Out Our Best Services for Investors
- $2.5+ million portfolio
- Large-cap and dividend focus
- Intraday trade alerts from Cramer
Access the tool that DOMINATES the Russell 2000 and the S&P 500.
- Buy, hold, or sell recommendations for over 4,300 stocks
- Unlimited research reports on your favorite stocks
- A custom stock screener
- Model portfolio
- Stocks trading below $10
- Intraday trade alerts