Owens Corning announces purchase of bushing facility in China
Purchase completes OC global footprint to serve fastest growing glass fiber
region in the world
TOLEDO, Ohio, March 7, 2013
TOLEDO, Ohio, March 7, 2013 /PRNewswire/ --Owens Corning (NYSE:OC), a leading
global producer of glass fiber reinforcements for composite systems and
residential and commercial building materials, has announced an agreement with
Tanaka Kikinzoku Kogyo K.K and Tanaka Kikinzoku International K. K.
(collectively referred as "Tanaka") to purchase Tanaka Kikinzoku (Suzhou) Co.,
Ltd (TKS). TKS is a producer of glass fiber bushings and other parts which
service various glass industries in China and has been operating since 2006.
TKS will become a part of Owens Corning GlassMetal Services, a wholly owned
business unit which makes glass fiber bushings and related parts for the glass
This purchase only involves Tanaka's TKS business. Both Owens Corning and
Tanaka have other bushing business concerns globally. According to Owens
Corning Composite Solutions Business President Arnaud Genis, "The acquisition
of TKS gives Owens Corning the ability to better serve China which is the
largest and fastest growing glass fiber country in the world." Genis
continues, "This completes Owens Corning's global footprint of bushing
facilities which include additional locations in Singapore, the U.S., Brazil,
and Russia and services both internal Owens Corning needs and the needs of
other glass fiber producers."
About Owens Corning
Owens Corning (NYSE: OC) is a leading global producer of residential and
commercial building materials, glass-fiber reinforcements and engineered
materials for composite systems. A Fortune^® 500 Company for 58 consecutive
years, Owens Corning is committed to driving sustainability by delivering
solutions, transforming markets and enhancing lives. Celebrating its 75th
anniversary in 2013, Owens Corning is a market-leading innovator of
glass-fiber technology with sales of $5.2 billion in 2012 and approximately
15,000 employees in 27 countries on five continents. Additional information
is available at www.owenscorning.com.
Over the years since its establishment in 1885, Tanaka Kikinzoku Kogyo K.K.,
(Kikinzoku meaning "precious metals" and Kogyo meaning "industries"), has
created a group of affiliated companies, first in Japan and later throughout
the world, to engage in a diversified range of business activities involving
precious metals, including precious metal investment and fine jewelry sales.
Tanaka has long been Japan's largest precious metals trader and holds
certifications from the LBMA (London Bullion Market Association) and the LPPM
(London Platinum & Palladium Market) for the assaying and refereeing of gold
and silver, and platinum and palladium, respectively. The Tanaka Group
companies have also been continuing to strengthen their position as world
leaders in the manufacture and sale of key industrial products made from
precious metals. As consummate professionals in field of precious metals and
related products, the Tanaka Group companies pledge themselves to contributing
to the enrichment of the lives of people throughout the world.
SOURCE Owens Corning
Contact: Kelly Donaghy, Owens Corning, +1-419-343-0207; Osamu Ikeda, Tanaka,
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