Why Owens Corning

OWENS CORNING develops, manufactures and markets insulation, roofing, and fiberglass composites. A Fortune 500® company for 62 consecutive years, the company develops solutions that save energy and improve comfort in commercial and residential buildings. Through its glass reinforcements business, Owens Corning makes thousands of products lighter, stronger and more durable.

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Price61.96 Change+0.10 Volume: 82,253 % Change+0.15% May 26, 2017 Pricing delayed 20 minutes

Press Releases

15 May, 2017 Owens Corning to Acquire High-Performance Cellular Glass Manufacturer Pittsburgh Corning PDF format download (opens in new window)
Transaction Provides Greater Access to Attractive Markets and Increases Global Scope of Owens Corning Insulation Owens Corning (NYSE:OC) today announced that it has signed an agreement to acquire Pittsburgh Corning, the world’s leading producer of cellular glass insulation systems for commercial and industrial markets. Upon closing, the company will pay approximately $560 million in cash, on a cash free and debt free basis. The transaction, which is subject to regulatory approvals, is anticipated to close in the third quarter of 2017. Pittsburgh Corning produces FOAMGLAS® cellular glass, a sustainable, high performance insulation offering water and fire resistance, high compressive strength and long-lasting thermal protection. This unique combination of properties makes FOAMGLAS® the insulation of choice for low-temperature industrial applications and in premier commercial buildings around the world. Pittsburgh Corning also offers an extensive line of accessory products. “The ...
05 May, 2017 Owens Corning and TopBuild Announce Settlement of Contract Dispute PDF format download (opens in new window)
Settlement clears path for a productive commercial relationship TopBuild Corp. (NYSE:BLD), and Owens Corning (NYSE:OC) have entered into a settlement agreement in connection with a commercial breach of contract dispute from the second quarter of 2016. Both companies plan to resume a productive and normalized commercial relationship whereby Owens Corning will sell residential insulation to TopBuild and its subsidiaries, including TruTeam. Under the terms of the settlement, TopBuild will pay Owens Corning $30 million in cash. The settlement will also result in the dismissal of the lawsuit filed in May, 2016 in Toledo, Ohio in connection with the dispute. Additional details of the settlement agreement remain confidential. About TopBuild TopBuild Corp. , headquartered in Daytona Beach, Florida , is the leading purchaser, installer and distributor of insulation products to the U.S. construction industry. We provide insulation services nationwide through TruTeam®, which has over 175 ...
26 April, 2017 Owens Corning Reports First-Quarter 2017 Results PDF format download (opens in new window)
Company Grows Net Sales by 20% and Net Earnings by 77% Company grew adjusted EBIT by 45% Roofing produced EBIT of $125 million, with EBIT margins of 20% Composites delivered record first-quarter EBIT of $71 million, with EBIT margins of 14% Insulation resumed revenue growth and generated EBIT of $5 million Owens Corning (NYSE: OC) today reported consolidated net sales of $1.5 billion in first-quarter 2017, compared with net sales of $1.2 billion in first-quarter 2016, an increase of 20%. First-quarter 2017 net earnings attributable to Owens Corning were $101 million , or $0.89 per diluted share, compared with $57 million , or $0.49 per diluted share, during the comparable quarter in 2016. First-quarter 2017 adjusted earnings were $97 million , or $0.85 per diluted share, compared with $62 million , or $0.53 per diluted share, during the same period one year ago (See Use of Non-GAAP Measures, See Table 3). “Owens Corning is off to a great start in 2017. The company capitalized on ...

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