05 June 2009
05 June 2009
Owens Corning is selling its European Composites Distribution Business to Gazechim Composites Groupe, a France-based raw materials distribution company and long-time Owens Corning distributor.
The sale will allow Gazechim to expand its presence in Northern and Eastern Europe, and reinforce Owens Corning ties to a strong pan-European composites distributor.
Currently, the distribution business operates in eight different locations (Czech Republic, France, Germany, Italy, Romania, Spain, Sweden and the United Kingdom). Gazechim will become Owens Corning's exclusive distributor in Czech Republic, France, Germany, Romania, Spain, Scandinavia and the United Kingdom.
“With this sale, we believe Owens Corning is now in a position to offer the best distribution customers can expect today and tomorrow, as well as support growth in these countries,” said Arnaud Genis, vice president and managing director of Europe and global fabrics for Owens Corning. “The sale brings to market a powerful combination of our manufacturing base, Gazechim’s distribution expertise, and the wide and deep range of products for open mould, closed mould, pultrusion and filament winding through the distribution business.”
Jean Guittard, president of Gazechim added, “For years, we have developed a distribution model based on a network of regional distribution companies, on strong partnerships with leading producers of raw materials and tools such as Owens Corning and Cray Valley, and on sales teams specialized in the composite industry. This acquisition allows us to be very close to our customers to understand and anticipate their needs and to offer them the best solutions. The acquisition of the Owens Corning distribution business is extending this model across Europe and will create synergies for the benefit of our customers.”