Building material producer
) has taken over the mineral wool commercial and industrial
insulation products manufacturer Thermafiber Inc.
The acquisition includes a145,000-square-foot manufacturing
location of Thermafiber located in Wabash, IN. The buyout
provides Owens Corning with a broad insulation portfolio of
fiberglass, foam and mineral wool insulation products.
The insulation produced by Thermafiber contains up to 90
percent recycled content and is non-combustible, inorganic and
mold-resistant. It is used in fire blankets, fire block and
curtain wall applications in commercial, residential, and
Recently, in March 2013, Toledo, OH-based Owens Corning
entered into a strategic alliance with leading chemical company
BASF and a multi-national thermoplastic producer, TenCate
Advanced Composites. Under the alliance the two 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.
Owens Corning which produces residential and commercial
building materials, glass-fiber reinforcements and engineered
materials for composite systems is slowly gaining momentum from
improving new home demand.
With the overall new home construction market improving
steadily, building and other construction material companies like
Vulcan Materials Company
Eagle Materials Inc.
) as well as building product makers
) are seeing a concomitant rise in demand and volume.
The housing market has steadily made a comeback from the lows
witnessed in mid-2006 from the severe and widespread downturn.
The stability in the home buying market, combined with low
interest rates and increased rentals, has increased the
affordability of homes.
The U.S. housing market has seen significant upside in new
home sales volume for 2012 with industry-wide sales increasing
roughly 25% from prior-year levels. New home construction
activity improved 25% in 2012. Faced with the fiscal cliff at
2012 end, and the threat of sequestration and a mounting national
debt, the recovery of the housing market was one bright spot on
the U.S. economic horizon.
Owens Corning currently retains a short-term Zacks Rank #2
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