04 March, 2025
Owens Corning Appoints Gina Beredo as Chief Administrative Officer
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Owens Corning (NYSE: OC), a residential and commercial building products leader, today announced that Gina Beredo has been promoted to the newly created role of Executive Vice President, Chief Administrative Officer & General Counsel of the company. Gina Beredo has been promoted to the newly created role of Executive Vice President, Chief Administrative Officer & General Counsel of Owens Corning. (Photo: Business Wire) In her expanded role, Ms. Beredo will oversee the company's human resources function along with her existing legal, corporate affairs, aviation, and community affairs responsibilities. Ms. Beredo joined the company in June 2021 as General Counsel. During this time, she has continued to expand her impact and accountabilities, playing a key role in advancing the company's business strategy, including successfully acquiring and integrating Masonite International Corporation and executing the divestiture of the company's glass reinforcements business while also
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24 February, 2025
Owens Corning Delivers Full-Year Net Sales of $11.0 Billion; Generates Earnings of $647 Million and Adjusted EBIT of $2.0 Billion
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Owens Corning (NYSE: OC), a residential and commercial building products leader, today reported fourth-quarter and full-year 2024 results. Reported Net Sales of $11.0 Billion, a 13% Increase from Prior Year, with Newly Acquired Doors Business Contributing $1.4 Billion in Revenue Generated Net Earnings Margin of 6%, Adjusted EBIT Margin of 19%, and Adjusted EBITDA Margin of 25% Delivered Diluted EPS of $7.37 and Adjusted Diluted EPS of $15.91 Produced Operating Cash Flow of $1.9 Billion and Free Cash Flow of $1.2 Billion Returned $638 Million, or 51%, of Free Cash Flow to Shareholders through Dividends and Share Repurchases “2024 was a transformative year for Owens Corning as we successfully executed three major strategic moves to reshape and focus the company on building products in North America and Europe, while consistently delivering higher, more resilient earnings and cash flow,” said Chair and Chief Executive Officer Brian Chambers. “Through our unique enterprise capabilities,
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14 February, 2025
Owens Corning to Sell Glass Reinforcements Business to Praana Group
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Transaction completes Owens Corning’s previously announced strategic review of the business Strengthens Owens Corning’s focus on residential and commercial building products in North America and Europe Enhances Praana Group’s existing advanced materials and composites business through the addition of Owens Corning’s glass reinforcements business Owens Corning (NYSE: OC), a residential and commercial building products leader, and Praana Group, an India-based holding group that operates a diverse portfolio of companies primarily serving the industrial sector, announced today that they have signed a definitive agreement for the sale of Owens Corning’s glass reinforcements business to Praana Group (through its subsidiaries) at an enterprise value of $755,000,000. This sale is a part of Owens Corning’s strategic plan to reshape the company to focus on residential and commercial building products in North America and Europe. Owens Corning’s glass reinforcements business, part of the
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