Posted in | News | Business | Composites | Building and Construction | Fibers

Owens Corning to Sell Masonry Products Business to Boral Industries

Dec 21 2010

Owens Corning (NYSE: OC), a world leader in building materials and glass fiber reinforcements, announced today that it has reached a definitive agreement with Boral Industries Ltd. to sell its Masonry Products business.

Related Stories

The divestiture will be in two stages. Owens Corning will sell a 50 percent stake in its Masonry Products business to Boral Industries Ltd. for $45 million at closing.  The Masonry Products business will then be operated jointly until early 2014.  At that time, Owens Corning will sell its remaining 50 percent stake for $45 million and may receive additional proceeds dependent upon 2013 financial performance.  Owens Corning will record an impairment charge estimated to be $115 million, which is primarily related to goodwill and other intangible assets assigned to the business in 2006 as part of fresh start accounting.

Boral will assume operational control of the business at closing.  During the period of joint ownership, Owens Corning and Boral will work together to ensure maximum performance.

Source: http://www.owenscorning.com/

Tell Us What You Think

Do you have a review, update or anything you would like to add to this news story?

Leave your feedback
(Logout)
Your comment type
Submit

Sponsored Content

Editorial Highlights

The Current State of the Global Semiconductor Market

The Current State of the Global Semiconductor Market

The global semiconductor market has entered an exciting period. Demand for chip technology is both driving the industry as well as hindering it, with current chip shortages predicted to last for some time. Current trends will likely shape the future of the industry, which is set to continue to show

How are Graphene Batteries Made?

How are Graphene Batteries Made?

The primary distinction between graphene-based batteries and solid-state batteries lies in the composition of either electrode. Although the cathode is commonly changed, carbon allotropes can also be employed in fabricating anodes.

Newsletters you may be interested in

See all Newsletters »

Terms

While we only use edited and approved content for Azthena answers, it may on occasions provide incorrect responses. Please confirm any data provided with the related suppliers or authors. We do not provide medical advice, if you search for medical information you must always consult a medical professional before acting on any information provided.

Your questions, but not your email details will be shared with OpenAI and retained for 30 days in accordance with their privacy principles.

Please do not ask questions that use sensitive or confidential information.

Read the full Terms & Conditions.

Provide Feedback