Owens Corning announced that the company has decided to review strategic alternatives for its global glass reinforcements, or GR, business. The decision to explore alternatives for the GR business is consistent with the company’s strategy to focus on building and construction materials. The business, which operates within the company’s Composites segment, manufactures, fabricates, and sells glass fiber reinforcements in a variety of product forms. The GR business generates annual revenues of approximately $1.3B and has operations in 11 countries, with 18 manufacturing facilities. The business supplies a wide variety of glass fiber products for applications in wind energy, infrastructure, industrial, transportation, and consumer markets. Owens Corning’s vertically integrated glass nonwovens business that supports the Roofing segment and other building products customers, along with the recently acquired WearDeck business, remain core activities of the company and are out of the scope of this evaluation.
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