Owens Corning (OC) - Get Owens Corning Report announced today that it has acquired vliepa GmbH, which specializes in the coating, printing and finishing of nonwovens, paper and film for the building materials industry. The acquisition broadens Owens Corning's significant global nonwovens portfolio to better serve European customers and accelerate growth of building and construction market applications in the region.
"This highly complementary combination advances our global strategy of expanding deeper into the value chain and investing in high-growth markets," said Marcio Sandri, President of Owens Corning's Composites business. "The acquisition adds immediate coating capacity for our customers in the building materials industry, along with supporting the transformation of the construction market from traditional materials to innovative, glass-faced solutions."
With this transaction, Owens Corning has taken ownership of two production facilities in Brüggen, Germany. Terms of the transaction were not released.
"I am very excited about our new opportunities with Owens Corning," said Eric Schillings, Managing Partner of vliepa GmbH. "Leveraging their broad enterprise capabilities and market-leading positions, Owens Corning will help us expand in our markets and accelerate our growth. I am confident that vliepa will have a bright future in the new organization."
The acquisition reinforces Owens Corning's commitment to its global nonwovens business, which delivers differentiated solutions.
"We believe vliepa's technology and capabilities are an ideal complement to our nonwoven solutions, manufacturing capacity, and commercial relationships," added Sandri. "Our combined organization will address several key macrotrends, including sustainability, lightweight building materials, and more labor-efficient construction solutions, by delivering enhanced performance in a variety of applications, including Polyiso (polyisocyanurate) insulation and gypsum boards."
In total, vliepa GmbH employs about 70 people and delivered 2020 sales of approximately $30 million.
About Owens Corning
Owens Corning is a global building and industrial materials leader. The company's three integrated businesses are dedicated to the manufacture and advancement of a broad range of insulation, roofing and fiberglass composite materials. Leveraging the talents of 19,000 employees in 33 countries, Owens Corning provides innovative products and sustainable solutions that address energy efficiency, product safety, renewable energy, durable infrastructure, and labor productivity. These solutions provide a material difference to the company's customers and make the world a better place. Based in Toledo, Ohio, USA, the company posted 2020 sales of $7.1 billion. Founded in 1938, it has been a Fortune 500® company for 67 consecutive years. For more information, please visit www.owenscorning.com.
Owens Corning Company News / Owens Corning Investor Relations News
View source version on businesswire.com: https://www.businesswire.com/news/home/20210713005410/en/