NetComposites
Attwater

Owens Corning Report 16 Percent Sales Increase for First Quarter 2005 Results

06 May 2005

Owens Corning reported financial results for the first quarter ending March 31, 2005, showing net sales for the first quarter of $1.402 billion, an increase of 16 percent compared to the same period in 2004.

Owens Corning said that the increase was attributable to a combination of strong demand for the Company's products in all of its major markets and a more favourable pricing environment for Owens Corning and its customers.

The report points to the continued strength of the United States housing and remodelling markets and an improving global economy enabled the Company to experience higher volumes in both its building materials and composite solutions businesses in the 2005 first quarter. In response to market demand, the Company continued its efforts to improve the manufacturing efficiencies of its plants and otherwise expand capacity, particularly in North America and Asia Pacific.

""We are very pleased with our results for the quarter,"" said Dave Brown, Owens Corning's Chief Executive Officer. ""Through a combination of record sales and productivity we offset significant increases in energy and raw material costs. Our commitment to safety resulted in a significant decline in the number of injuries sustained by our employees. We believe that the overall improvement that we achieved in our operations positions us well to serve our markets and to continue profitable growth in 2005.""






Related / You might like...

Scigrip Appoints Biesterfeld Distributor to French Markets

Scigrip has expanded its agreement with Biesterfeld Spezialchemie to include France and the French territories in Northern Africa, with immediate effect.

EconCore Presents Developments in Thermoplastic Honeycomb Core Technology

EconCore will unveil the latest developments in its thermoplastic honeycomb core production technology at NPE2018 on 7-11 May in Orlando, Florida, US.

Advanced Engineering Celebrates 10 Years with a Bigger Show and More Industries Covered

Advanced Engineering 2018, the UK exhibition for advanced engineering professionals, is celebrating its 10th birthday by being bigger and better than ever, according to show organiser Easyfairs.