) has officially announced its strategic alliance with leading
chemical company, BASF, and multi-national thermoplastic
producer, TenCate Advanced Composites. The companies will work
together to develop thermoplastic composites for mass production
of automobiles in an attempt to make vehicles lighter, durable,
environment friendly and more fuel efficient.
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Under the strategic alliance, BASF will contribute its knowledge
of producing and formulating thermoplastic resins while TenCate
Advanced Composites will offer its proficiency in composites
manufacturing. Owens Corning, on the other hand, will share its
technology to develop tailor-made fabrics and glass reinforcement
As per the alliance, the industry leaders will be able to come
across the best possible solutions for clients and the highest
quality design and structure. A reduction in processing cost will
help in the achievement of composite materials in automotive
Demand for lighter vehicles, which maintain strength and
durability, has soared due to rigid global emission standards.
Fiber reinforced plastic composites can be 30% to 50% lighter
than metal parts, which will help to reduce emissions and costs
Continuous fiber reinforced thermoplastic composites, such as
tapes and laminates used in thermoforming processes, have huge
potential for structural parts. Thermoplastic processing reduces
production cycle times and can also be recycled.
Toledo, Ohio-based Owens Corning is a leading producer of
residential and commercial building materials, glass-fiber
reinforcements and engineered materials for composite systems.
Having roughly 15,000 employees in 27 countries, Owens Corning is
a market-leading innovator of glass-fiber technology.
Owens Corning currently retains a short-term Zacks Rank #3
James Hardie Industries plc
Trex Co. Inc.
) also belong to the same industry where Owens Corning operates.
Each of them holds a Zacks Rank #2 (Buy).