Owens Corning to Sell Glass Reinforcements Business to Praana Group

Owens Corning has agreed to sell its glass reinforcements business to India’s Praana Group for $755 million, aiming to focus on residential and commercial building products in North America and Europe. The divested segment, generating approximately $1.1 billion in 2024, produces glass fiber reinforcements for applications in wind energy, infrastructure, industrial, transportation, and consumer markets, and employs about 4,000 people across 18 facilities in 12 countries. The transaction is expected to close in 2025, pending regulatory approvals, and is anticipated to enhance Praana Group’s presence in the glass fiber reinforcements market, aligning with global sustainability trends.

 Source : owenscorning.com