Owens Corning and Saint-Gobain have agreed to merge Owens Corning’s Reinforcements Business and Saint-Gobain’s Reinforcements and Composites Business (a part of the entity known as Vetrotex) into a new company that will be named OCV Reinforcements.
On July 27, 2006, Owens Corning and Saint-Gobain jointly announced that they were in discussions to merge their respective reinforcements and composites businesses, creating a global company in reinforcements and composite fabrics products, with worldwide revenues of $1.8 billion (1.5 billion) and 10,000 employees.
The agreement stipulates that the joint-venture will be owned 60% by Owens Corning and 40% by Saint-Gobain. After a minimum of four years, Saint-Gobain will have the option to sell its stake to Owens Corning, and …
Owens Corning, Saint Gobain Merge Reinforcements Businesses
Owens Corning and Saint-Gobain have agreed to merge Owens Corning’s Reinforcements Business and Saint-Gobain’s Reinforcements and Composites Business (a part of the entity known as Vetrotex) into a new company that will be named OCV Reinforcements.
On July 27, 2006, Owens Corning and Saint-Gobain jointly announced that they were in discussions to merge their respective reinforcements and composites businesses, creating a global company in reinforcements and composite fabrics products, with worldwide revenues of $1.8 billion (1.5 billion) and 10,000 employees.
The agreement stipulates that the joint-venture will be owned 60% by Owens Corning and 40% by Saint-Gobain. After a minimum of four years, Saint-Gobain will have the option to sell its stake to Owens Corning, and …
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- Filed In: Finance, Free, Mergers & Acquisitions, News, Subscriber Only, Top Distributor Sectors
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