Owens Corning selling Brazilian plant

Date: 24 February 2011
Source: www.bloomberg.com

Date: 24 February 2011

Construction and manufacturing materials maker Owens Corning said Wednesday it will sell its glass fiber reinforcements plant in Capivari, Brazil to China's Chongqing Polycomp International Corp.

Terms were not disclosed.

The sale is expected to close in the second quarter.

The company said it retains full ownership of its glass fiber reinforcements and fabrics facilities in Rio Claro, Brazil.

In December, the company sold its masonry products business to Boral Industries Ltd. for $90 million.

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