Owens Corning completes sale of Russian operations, affirms Q4 guidance

Following its decision earlier this year to exit the Russian market, Owens Corning announced that it has completed the sale of its operations in the country to Umatex, a Russia-based producer of carbon fiber and fiber-based items. Financial terms of the sale were not disclosed. In conjunction with the announcement, the company reaffirmed its guidance of modest growth in net sales and earnings for the enterprise in the fourth quarter compared with the same period in 2021.