This account is pending registration confirmation. Please click on the link within the confirmation email previously sent you to complete registration.
Need a new registration confirmation email? Click here
See Cramer's multi-million dollar portfolio for FREE and get his new book Get Rich Carefully! Learn More

Owens Corning And Taishan Fiberglass Announce Strategic Alliance

TOLEDO, Ohio, June 4, 2013 /PRNewswire/ -- Owens Corning (NYSE: OC), a global producer of glass fiber reinforcements for composite systems and residential and commercial building materials, has announced a strategic alliance with glass fiber producer Taishan Fiberglass , a subsidiary of China National Materials Group, Sinoma, to grow the use of Alkali Resistant (AR) specialty glass products sold under the brands Cem-FIL ®, Anti–CRAK ®, Slurry-FIL™ throughout the world.

Manufacturing for the alliance will be based in China and supported by Owens Corning global research and development centers which will provide product and application development for these specialty reinforcements.  To ensure commercial focus and success, Taishan will concentrate in China, ASEAN, Japan, Korea, South Africa and Saudi Arabia markets with Owens Corning serving markets located throughout the rest of the world.

According to Owens Corning Group President Arnaud Genis, "We believe a bright future exists for glass reinforcements to be used in cement materials, the largest materials market in the world.  With Owens Corning's history of invention and pioneering in glass fiber reinforcements, together with Taishan's strong manufacturing experience in China and Sinoma's experience in cement materials and engineering, this alliance is the right combination to bring growth to AR glass reinforcements for the foreseeable future."

Cem-FIL ® is a "High Performance" Alkali Resistant glass fiber, engineered to reinforce concrete to prevent plastic, thermal and dry shrinkage cracking. Cem-FIL ® increases flexural strength and ductility, and adds toughness to concrete. Since their development and launch in 1970, Alkali Resistant glass fibers have been used in more than 120 countries for the reinforcement of cement and concrete products. They are best known for their use in factory-produced GRC elements (Glass Fiber Reinforced Concrete), but the range of Anti-CRAK ® fibers has been recently expanded for use in the general ready-mix concrete and precast industries (e.g. flooring, thin-walled elements).

About Owens CorningOwens Corning is a global producer of glass fiber reinforcements and engineered materials for composite systems and residential and commercial building materials. A Fortune 500 company for 59 consecutive years, Owens Corning is committed to driving sustainability through delivering solutions, transforming markets and enhancing lives. Celebrating its 75 th anniversary, Owens Corning had sales of $5.2 billion in 2012 and employs 15,000 employees in 27 countries on five continents. The Owens Corning Composite Solutions Business delivers a broad range of reinforcement products that provide lightweight alternatives to steel, wood and aluminum, thereby reducing weight and improving energy efficiency. Additional information is available at www.owenscorning.com.

About Taishan Fiberglass Taishan Fiberglass as one of the main fiberglass manufacturers in China, it manufactures and sells glass fiber reinforcement products used in a wide range of applications Exporting internationally from its manufacturing plants in China. Taishan Fiberglass was founded in 1997 and is based in Taian City, Shandong Province, China.

Owens Corning Investor Relations News

Stock quotes in this article: OC 

Select the service that is right for you!

COMPARE ALL SERVICES
Action Alerts PLUS
Try it NOW

Jim Cramer and Stephanie Link actively manage a real portfolio and reveal their money management tactics while giving advanced notice before every trade.

Product Features:
  • $2.5+ million portfolio
  • Large-cap and dividend focus
  • Intraday trade alerts from Cramer
  • Weekly roundups
TheStreet Quant Ratings
Try it NOW
Only $49.95/yr

Access the tool that DOMINATES the Russell 2000 and the S&P 500.

Product Features:
  • Buy, hold, or sell recommendations for over 4,300 stocks
  • Unlimited research reports on your favorite stocks
  • A custom stock screener
  • Upgrade/downgrade alerts
Stocks Under $10
Try it NOW

David Peltier, uncovers low dollar stocks with extraordinary upside potential that are flying under Wall Street's radar.

Product Features:
  • Model portfolio
  • Stocks trading below $10
  • Intraday trade alerts
  • Weekly roundups
Dividend Stock Advisor
Try it NOW

Jim Cramer's protege, David Peltier, identifies the best of breed dividend stocks that will pay a reliable AND significant income stream.

Product Features:
  • Diversified model portfolio of dividend stocks
  • Alerts when market news affect the portfolio
  • Bi-weekly updates with exact steps to take - BUY, HOLD, SELL
Real Money Pro
Try it NOW

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.

Product Features:
  • Real Money + Doug Kass Plus 15 more Wall Street Pros
  • Intraday commentary & news
  • Ultra-actionable trading ideas
Options Profits
Try it NOW

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.

Product Features:
  • 100+ monthly options trading ideas
  • Actionable options commentary & news
  • Real-time trading community
  • Options TV
To begin commenting right away, you can log in below using your Disqus, Facebook, Twitter, OpenID or Yahoo login credentials. Alternatively, you can post a comment as a "guest" just by entering an email address. Your use of the commenting tool is subject to multiple terms of service/use and privacy policies - see here for more details.
DOW 16,387.54 +124.98 0.77%
S&P 500 1,855.30 +12.32 0.67%
NASDAQ 4,064.1950 +30.0340 0.74%

Brokerage Partners

Rates from Bankrate.com

  • Mortgage
  • Credit Cards
  • Auto
Advertising Partners

Free Newsletters from TheStreet

My Subscriptions:

After the Bell

Before the Bell

Booyah! Newsletter

Midday Bell

TheStreet Top 10 Stories

Winners & Losers

Register for Newsletters
Top Rated Stocks Top Rated Funds Top Rated ETFs