With this transaction, the global building and industrial materials leader Owens Corning has taken ownership of two production facilities in Bruggen, Germany. Terms of the transaction were not released.
“This highly complementary combination advances our global strategy of expanding deeper into the value chain and investing in high-growth markets,” said Marcio Sandri, president of Owens Corning’s composites business. “The acquisition adds immediate coating capacity for our customers in the building materials industry, along with supporting the transformation of the construction market from traditional materials to innovative, glass-faced solutions.”
“I am very excited about our new opportunities with Owens Corning,” said Eric Schillings, managing partner of Vliepa. “Leveraging their broad enterprise capabilities and market-leading positions, Owens Corning will help us expand in our markets and accelerate our growth. I am confident that Vliepa will have a bright future in the new organisation.”
The acquisition reinforces Owens Corning’s commitment to its global nonwovens business, which delivers differentiated solutions.
“We believe Vliepa‘s technology and capabilities are an ideal complement to our nonwoven solutions, manufacturing capacity, and commercial relationships,” added Sandri. “Our combined organisation will address several key macrotrends, including sustainability, lightweight building materials, and more labour-efficient construction solutions, by delivering enhanced performance in a variety of applications, including Polyiso (polyisocyanurate) insulation and gypsum boards.”
In total, Vliepa GmbH employs about 70 people and delivered 2020 sales of approximately $30 million.
Fibre2Fashion News Desk (KD)