Owens Corning announced 24 January 2008 that it has reached a definitive agreement to sell two composite manufacturing plants to Platinum Equity. The facilities are located in Battice, Belgium, and Bi…
Owens Corning announced 24 January 2008 that it has reached a definitive agreement to sell two composite manufacturing plants to Platinum Equity. The facilities are located in Battice, Belgium, and Birkeland, Norway. Owens Corning previously announced that it planned to sell these composite manufacturing facilities to address regulatory concerns associated with Owens Corning“s acquisition of Saint-Gobain“s Reinforcements and Composite Fabrics businesses on 31 October 2007. The transaction, which is subject to regulatory approval, is expected to close during the 1Q of 2008. Additional details regarding the transaction will be included in a Form 8-K to be filed with the Securities and Exchange Commission.