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Owens Corning Sells Composite Manufacturing Plants in Belgium and Norway

29 January 2008

Owens Corning 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 Oct. 31, 2007.

The transaction, which is subject to regulatory approval, is expected to close during the first quarter of this year.