Owens Corning to pick up Pittsburgh Corning for $560M
May 16, 2017
Commercial Products | Pittsburgh, PA | Corporate Acquisition
Owens Corning (NYSE: OC) has agreed to purchase Pittsburgh Corning, a provider of cellular glass insulation systems for commercial and industrial markets, for $560 million on a cash- and debt-free basis. The deal expands Owens Corning's Asian and European footprints with the addition of Pittsburgh Corning's facilities in China, Belgium and the Czech Republic. Pittsburgh Corning delivered 2016 sales of more than $240 million. Owens Corning's shares closed up 4% Monday.