Owens Corning Acquires Thermafiber
It doesn't take sleuthing by the Pink Panther to recognize that with Owens Corningcompleting its acquisition of mineral wool insulation maker Thermafiber, it now has a broad portfolio of products covering the insulation market, encompassing fiberglass, foam, and mineral wool insulation products.
While deal specifics weren't disclosed in yesterday's announcement, Owens Corning will obtain a 145,000-square-foot manufacturing facility located in Wabash, Ind.
Joe Ochoa, OC VP and General Manager of Engineered Insulation Systems, said: "The acquisition of Thermafiber is an outstanding addition for Owens Corning and our customers. Mineral wool insulation adds to our product portfolio and helps us to provide access to high-temperature commercial building applications."
Mineral wool insulation products support fire block, fire blankets, and curtain wall applications for commercial, residential, and industrial markets. According to the company, Thermafiber's insulation contains up to 90% recycled content and is non-combustible, inorganic, and mold-resistant and has been installed in six of the world's 12 tallest buildings, including One World Trade Center in New York City and the Burj Khalifa tower in Dubai.
Headquartered in Toledo, Ohio, Owens Corning had sales of $5.2 billion in 2012 and approximately 15,000 employees in 27 countries on five continents.
The article Owens Corning Acquires Thermafiber originally appeared on Fool.com.Fool contributor Rich Duprey has no position in any stocks mentioned. The Motley Fool has no position in any of the stocks mentioned. Try any of our Foolish newsletter services free for 30 days. We Fools may not all hold the same opinions, but we all believe that considering a diverse range of insights makes us better investors. The Motley Fool has a disclosure policy.
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