Owens Corning Acquires Asahi Glass Composites Business

09 December 2005

Owens Corning has reached an agreement with Asahi Glass to acquire its composites business, including a glass manufacturing facility located near Tokyo.

""Japan continues to be a significant growth market for Owens Corning,"" said Steve Zirkel, managing director, Composite Solutions Asia Pacific – Owens Corning. ""The addition of this business strategically positions Owens Corning to better serve existing customers, add new customers and increase our presence in the Asia Pacific region.""

""We've worked together successfully with Owens Corning in Japan for many years,"" said Toru Shiraishi, president and representative director – Asahi Fiber Glass. ""Based on this relationship, we explored the best option for the plant and its employees, and as a result, decided that Owens Corning provided the best opportunity for the plant's future. As a trusted partner and leader in the global fibreglass and composite materials markets, we believe that Owens Corning's acquisition of this facility will lead to providing better services to customers and an opportunity for continued cooperation between our companies in the future.""

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