TOLEDO, Ohio, Oct. 30, 2012 /PRNewswire/ -- Owens Corning (NYSE: OC), announced today that its new furnace in its Gous-Khroustalny, Russia, glass reinforcements facility is operational. This is the latest step the company has taken to increase its global capacity to produce composite material and particularly to service the Russian and CIS markets. Owens Corning is a leading global producer of glass fiber reinforcements for composite systems and residential and commercial building materials.
"Two years ago, we decided to increase production capacity in our Gous-Khroustalny facility to support the growing needs of our CIS customers," said Umberto Rigamonti, vice president and managing director for the glass reinforcements business in Europe. "This is aligned with our business strategy to support growth in emerging markets with local assets and to continue to provide high quality products to our customers, wherever they are."
The Gous-Khroustalny plant, now with double production capacity, will manufacture Owens Corning's corrosion-resistant Advantex ® glass locally. The facility will produce roving and Wet Use Chopped Strands (WUCS) as well as other products.
"This investment enables us to further strengthen our global presence to deliver quality product in Russia and CIS countries," said Rigamonti. "We are excited to have the expansion of our Gous-Khroustalny 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. Celebrating its 75 th Anniversary in 2013, 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
Select the service that is right for you!COMPARE ALL SERVICES
Jim Cramer and Stephanie Link actively manage a real portfolio and reveal their money management tactics while giving advanced notice before every trade.
- $2.5+ million portfolio
- Large-cap and dividend focus
- Intraday trade alerts from Cramer
- Weekly roundups
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
- Upgrade/downgrade alerts
Jim Cramer's protege, David Peltier, identifies the best of breed dividend stocks that will pay a reliable AND significant income stream.
- Diversified model portfolio of dividend stocks
- Alerts when market news affect the portfolio
- Bi-weekly updates with exact steps to take - BUY, HOLD, SELL
All of Real Money, plus 15 more of Wall Street's sharpest minds delivering actionable trading ideas, a comprehensive look at the market, and fundamental and technical analysis.
- Real Money + Doug Kass + 15 more Wall Street Pros
- Intraday commentary & news
- Ultra-actionable trading ideas
Our options trading pros provide daily market commentary and over 100 monthly option trading ideas and strategies to help you become a well-seasoned trader.
- 100+ monthly options trading ideas
- Actionable options commentary & news
- Real-time trading community
- Options TV