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Owens Corning is initiating plans to build a 150 million pound per year greenfield light density fibre glass insulation plant.
The full-scale production plant is planned for the Southeastern United States, with production commencing as early as the third quarter of 2006.
The plant, which is subject to approval from the board of directors, would be Owens Corning’s first new insulation plant since 1994, and would increase the Company’s North American light density insulation capacity by 8 percent. This announcement is in addition to other steps taken by the Company in 2004, which will increase North American capacity by an additional 8 percent. Additionally, the flexibility of the new RHOAD platform would allow Owens Corning even greater flexibility to align production with demand across different light density products.
“Owens Corning recently completed an in-depth analysis of our markets, customers, energy trends and economic indicators that led us to take this significant step,” said George Kiemle, president, Owens Corning Insulating Systems Business. “As a leader in the fibre glass insulation industry, Owens Corning will continue to step forward to expand capacity to meet the demand of our customers in North America. Our goal is to ensure sufficient supplies to our customers by creating a stable environment for our customers to plan and grow their business.”
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