NetComposites
Attwater

Saint-Gobain Now Plans to Sell Reinforcement and Composites Business to Owens Corning

23 July 2007

Discussions regarding the plan to merge Saint-Gobain’s Reinforcements and Composites activities (part of Vetrotex) with the Reinforcements business of Owens Corning, are now focusing on a sale, rather than a jointly-owned company.

Saint-Gobain has retained its US reinforcement fiber activities based at Wichita Falls, Texas, which will be sold independently of the entities sold to Owens Corning.

In response to the concerns voiced by the European Commission, Owens Corning has today made public its plans to divest its industrial entities in Belgium and Norway.

A consultation process is underway with the relevant employee representative bodies. The closure of this transaction would be scheduled by the end of 2007, and would be subject to the agreement of the competition authorities in Europe.

As initially planned, Saint-Gobain’s Textile Solutions business, serving mainly construction markets, will remain part of the Group’s High-Performance Materials sector.





Share this story


Related / You might like...

AREVO to Manufacture World’s First 3D-Printed Carbon Fibre Unibody Bike Frames

AREVO has announced a partnership with boutique bike manufacturer Franco Bicycles to deliver the world’s first 3D printed, continuous carbon fibre single-piece unibody frame for a new line of eBikes Franco will sell under the ‘Emery’ brand.