Owens Corning, AGY Establish Technology and Service Relationship to Provide High-Performance S-Glass Reinforcements

 Owens Corning, AGY Establish Technology and Service Relationship to Provide
                   High-Performance S-Glass Reinforcements

AGY to assume Owens Corning S-Glass business, will operate as exclusive
licensee of Owens Corning S-Glass technology

PR Newswire

TOLEDO, Ohio, July 30, 2014

TOLEDO, Ohio, July 30, 2014 /PRNewswire/ --Owens Corning (NYSE: OC), a
leading global producer of glass fiber reinforcements for composite systems,
announced today that it has signed an agreement with AGY, a leading global
producer of glass fiber yarns and high-strength glass fiber reinforcements, to
better serve and grow the composites market with S-Glass reinforcements.

Owens Corning will license its S-Glass technology exclusively to AGY, which
will assume commercial and operating responsibility for all of Owens Corning's
S-Glass-related business effective August 1, 2014.

"This agreement enables our customers to benefit from AGY's global leadership
in S-2 Glass^® while realizing the full potential of Owens Corning's S-Glass
technology," said Steven Vermeulen, vice president and managing director of
Owens Corning's Engineered Solutions business. "For Owens Corning, this
agreement provides the opportunity to better realize the value of S-Glass
technology, while at the same time allowing us to focus more intently on core
products and initiatives."

Owens Corning S-Glass products will serve as a natural complement to AGY's
existing S-2 Glass^® business and the agreement will enable AGY to leverage
Owens Corning's global market development expertise to grow demand,
particularly in the area of S-Glass engineered thermoplastics.

"With this significant addition to our S-2 Glass^® business, we are confident
in AGY's ability to stay ahead of the needs of the market for high-performance
glass fiber reinforcements," said AGY President & CEO Drew Walker.

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 60 consecutive
years and in business for more than 75 years, Owens Corning is a
market-leading innovator of glass-fiber technology with sales of $5.3 billion
in 2013 and about 15,000 employees in 27 countries. Additional information is
available at www.owenscorning.com.

About AGY
AGY is a leading global producer of glass fiber yarns and high-strength glass
fiber reinforcements used in a variety of composites applications. The
company serves a diverse range of markets including aerospace and defense,
electronics, construction and industrial. Headquartered in Aiken, South
Carolina, USA, AGY has a European office in Lyon, France, and a manufacturing
facility in Aiken, South Carolina, USA. For more information, visit
www.agy.com.

SOURCE Owens Corning

Website: http://www.owenscorning.com
Contact: Owens Corning, Todd M. Romain, +1.419.248.7826,
todd.romain@owenscorning.com; or AGY, Kris Jommersbach, +1.610.935.1633,
krisj@geminiinc.com
 
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