30 Jul 2003
Owens Corning and Saint-Gobain to Build Joint Glass Reinforcement Facility in Mexico
State-of-the-art manufacturing facility to bring added capacity to the growing industry
Toledo, Ohio, July 30, 2003 – Owens Corning and Saint-Gobain stated today that they will locate their previously announced joint manufacturing venture in Xicohtencatl, Tlaxcala, Mexico, adjacent to a Saint-Gobain Vetrotex America facility. This joint venture will deliver the highest quality glass fiber reinforcements products to the growing composites marketplace. Construction is expected to begin in early August.
The state-of-the-art facility will produce roving products to be sold across a broad range of end use markets. "Locating this glass reinforcement facility in Mexico enables us to most cost-effectively meet the growth needs of our customers", said Dick Lantz, President, Owens Corning Composite Solutions. Roberto Caliari, President of the Branche Reinforcement of Saint Gobain, also stressed that "the new Joint Venture will allow Vetrotex to supply its customers with high quality glass reinforcements on an exceptionally cost-effective basis."
The roving products produced by this 50/50 joint venture will be sold in equal shares to Saint-Gobain Vetrotex and Owens Corning. Production and delivery of product is planned for late 2004.
On a global scale, the composites market is growing at a rate of 5 percent annually.
The transactions have been approved by the appropriate legal and regulatory agencies.
Notes for editors
Saint-Gobain operates as a manufacturer and provider of high technology materials and associated services. Saint-Gobain is one of the world’s hundred leading industrial corporations. The Group has worldwide sales of 30.3 billion € in 2002.
Owens Corning is a world leader in building materials systems and composites solutions. Founded in 1938, the company had sales of $4.9 billion in 2002. Additional information is available on Owens Corning’s Web site at www.owenscorning.net.