Owens Corning has signed a definitive agreement to sell its CFM (Continuous Filament Mat) business in Huntingdon, Pennsylvania, as well as related marble production assets in Anderson, South Carolina,…
Owens Corning has signed a definitive agreement to sell its CFM (Continuous Filament Mat) business in Huntingdon, Pennsylvania, as well as related marble production assets in Anderson, South Carolina, to AGY, a leading global producer of fiberglass yarns and high-strength fiberglass reinforcements used in a wide variety of composites applications. Terms were not disclosed. Owens Corning previously announced that it planned to sell composite manufacturing facilities located in Battice, Belgium; Birkeland, Norway; and Huntingdon. The divestitures are intended to address regulatory concerns associated with Owens Corning“s proposed acquisition of Saint-Gobain“s Reinforcement and Composites business. The divestiture is subject to regulatory approval, and is expected to close during the 4Q 2007.