Owens Corning celebrates 75 years in business, looks ahead to a bright future

Owens Corning celebrates 75 years in business, looks ahead to a bright future

PR Newswire

TOLEDO, Ohio, Oct. 31, 2013

TOLEDO, Ohio, Oct. 31, 2013 /PRNewswire/ -- Owens Corning began when an
experiment with glass building blocks produced an unexpected result – it
revealed a way to make glass fibers in commercial quantities.

That discovery launched more than a new product. It set in motion a remarkable
series of events that included the birth of an innovative company that would
develop new industries related to the production of fiber glass materials.

The first, historic step occurred on Oct. 31, 1938, when Owens-Illinois and
Corning Glass officially spun off and incorporated Owens-Corning Fiberglas,
based in Toledo, Ohio.

Today, Oct. 31, 2013, Owens Corning celebrates its 75^th anniversary. It is
one of only a few hundred U.S.-based companies that have reached this
milestone.

Owens Corning's world headquarters remains in Toledo, but its operations span
the world. It is a leading global producer of residential and commercial
building materials, including insulation and roofing shingles; glass-fiber
reinforcements for products such as cars, boats, wind blades and smart phones;
and engineered materials for composite systems.

"Our 75^th anniversary provides a great opportunity to celebrate where we've
been and who we are as a company, and get excited about our bright future,"
said Mike Thaman, chairman and CEO, who joined with fellow employees at the
closing bell ceremony of the New York Stock Exchange earlier this week. "What
makes our employees most proud is that our products improve people's lives.
Homes and buildings are more energy efficient. Cars are lighter and conserve
more fuel. Wind blades are longer and stronger. Our commitment to our
customers is to enable them to deliver those solutions to worldwide markets."

Among the many milestones of which the company takes very personally is its
global commitment to safety. Owens Corning's recordable injury rate has
declined every year for 11 years. Over that span, the company has reduced the
number of injuries from more than 1,000 to less than 100 per year. The goal is
to achieve a zero-injury workplace across its nearly 100 worldwide facilities.

Owens Corning's most recent safety milestone was being named by the National
Safety Council as the 2014 recipient for its Green Cross for Safety Medal for
its "steadfast commitment to improving safety and health in the workplace and
beyond."

"Our safety performance is an important example of how Owens Corning sets a
goal and then works tirelessly to achieve it," Thaman said. "We must get our
employees home in the same safe and healthy condition in which they arrive at
work. Our ability to do that exemplifies how we execute as a company on all
levels. We are honored to join a prestigious list of organizations to be
honored by the National Safety Council."

Other recent milestones include the company earning placement for the fourth
year in a row in the Dow Jones Sustainability World Index (DJSI World). This
year, Owens Corning was named the Industry Leader for the DJSI World Building
Products component.

"Meeting the needs of the present without compromising the world that we leave
to the future is this company's unwavering commitment," Thaman said. "Our
people continue to prove that our customers, our communities, our employees
and our investors can see significant benefits from that strategy. It will
lead us boldly into our next 75 years."

Here is a brief list of milestones in Owens Corning's first 75 years. More
information can be found at http://www.oc-75.com

Milestones in Owens Corning's 75 Years
Key milestones in Owens Corning's history include:

              Incorporates as Owens-Corning Fiberglas Corp. in the state of
Oct. 31, 1938 Delaware with Harold Boeschenstein as president and offices in
              Toledo, Ohio
              With basic materials in short supply, Owens Corning develops a
1939          lightweight, nonflammable insulation with a finished wall
              surface, called Navy Board, its main product throughout World
              War II
              First boat hull is made from fiberglass-reinforced plastic; this
1944          marine application become one of the largest applications for
              fiberglass reinforcements
              Company works with an automaker to produce the first
1945          fiberglass-reinforced plastic car body (General Motors launches
              Chevrolet Corvette with a fiberglass-reinforced body eight years
              later)
              Owens Corning scientists equip a production line with the first
1954          rotary fiberizer to make centrifugally spun fiberglass wool –
              still the standard process
1955          Owens Corning is listed on the inaugural FORTUNE 500 list
1957          "Comfort Conditioned Home" program is launched, the biggest
              marketing program to date to promote residential insulation
              Owens Corning supplies fiberglass fabric to the Hajj Terminal at
1970s         King Abdul Aziz International Airport in Saudi Arabia, which
              consisted of 210 tent-like structures covering nearly 3 million
              square feet
              Energy costs skyrocket due to oil crisis and changes to way
              people viewed energy use; insulation use starts to climb
              dramatically

1973          

              Owens Corning wins contract, which grew to $100 million in
              sales, to make and install insulation on the Trans-Alaska
              pipeline
              Owens Corning acquires a shingle and asphalt company and
1977          immediately starts to convert its plants to make fiberglass
              reinforced shingles, the industry norm today
              Owens Corning begins using United Artists' cartoon character The
1980          Pink Panther™ to help sell PINK fiberglass insulation; the
              company becomes the first to trademark a color, PINK, in 1987
1986          Wickes Companies' hostile takeover attempt is rebuked with the
              board's alternative plan to maximize shareholder value
              Owens Corning files for Chapter 11 bankruptcy protection due to
2000          its growing asbestos liability, which stemmed from a
              high-temperature calcium silicate pipe insulation trade-named
              Kaylo, manufactured from 1952 to 1972
Oct. 31, 2006 Owens Corning emerges from Chapter 11 bankruptcy
              Acquires Saint-Gobain's Reinforcements and Composite Fabrics
2007          business, positioning Owens Corning as a market leader in glass
              reinforcements and composites
              Launches EcoTouch™ insulation with PureFiber™ technology – made
2011          of natural materials and a formaldehyde-free formulation; it
              includes 50 percent recycled content, the highest certified
              percentage in the fiberglass insulation industry
2013          Owens Corning is named the 2014 recipient for the Green Cross
              for Safety medal by the National Safety Council

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 59 consecutive
years, Owens Corning is committed to driving sustainability by delivering
solutions, transforming markets and enhancing lives. Celebrating its 75^th
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.

SOURCE Owens Corning

Website: http://www.owenscorning.com
Contact: Media Inquiries: Matt Schroder, 419.248.8987
 
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