Owens Corning selling Brazilian plant

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.

Read more below.

600450 Owens Corning selling Brazilian plant glassonweb.com
Date: 24 February 2011
Source: www.bloomberg.com

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