Owens Corning Proceeds with North American Fiberglass Insulation Manufacturing Growth

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Researched by Industrialinfo.com (Industrial Information Resources, Incorporated; Houston, Texas). Owens Corning (OTCBB:OWENQ)(Toledo, Ohio) is proceeding with expansion of its North American fiberglass insulation manufacturing capacity through a series of major glass furnace rebuilds at existing plants, where new process technology improvements will be installed. The next project scheduled for the company in the U.S. involves a major process change and rebuild of its #2 glass melting furnace at the fiberglass insulation manufacturing plant in Fairburn, Georgia. Industrialinfo.com has been tracking this project since March 2003. The estimated $10-15 million project is scheduled to be implemented in April 2005, and will involve the installation of new melting furnace technology, as well as downstream production line upgrades to improve operating efficiency. Most of the major equipment has been purchased for the project. A general contractor will be selected in November to perform the work.

The company is planning similar furnace upgrades at plants in Kansas, New York, Ohio, and California.

The company is not limiting itself to in-plant expansion, as it is in the process of studying several sites in the Southeast U.S. for a new grassroot 150-million-pound-per-year light density fiberglass insulation plant. Owens Corning is studying sites in Alabama, Georgia, Mississippi, and Tennessee for the new grassroot plant. A site selection should be announced by the end of the year. Owens Corning is also nearing completion of construction for a new fiberglass insulation manufacturing plant in Tianjin, China.

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