*** Welcome to piglix ***

Owens Corning

Owens Corning
Public
Traded as OC
Industry General Building Materials, Composites
Founded Toledo, Ohio (1938)
Headquarters Toledo, Ohio, USA
Key people
Michael H. Thaman, Chairman of the Board and Chief Executive Officer
Products

Insulating systems
Composite solutions
Roofing and asphalt

Other building materials and services
Revenue Increase US$05.3 billion (2014)
$346 million (2014)
$226 million (2014)
Total assets $7.55 billion (2014)
Total equity $3.69 billion (2014)
Number of employees
15,000
Website www.owenscorning.com

Insulating systems
Composite solutions
Roofing and asphalt

Owens Corning is a global company that develops and produces insulation, roofing, and fiberglass composites. It was formed in 1935 as a partnership between two major American glassworks, Corning Glass Works and Owens-Illinois. The company employs approximately 15,000 people around the world. Owens Corning has been a Fortune 500 company every year since the list was created in 1955.

Owens-Corning Fiberglass Company was formed in 1935 through the merger of Owens-Illinois and Corning Glass Works. It became a separate company in 1938 with its headquarters established in Toledo, Ohio. In 1938, the company sales reached $2.6 million.

The company held its initial public offering on the in 1952. In 1955, Owens-Corning purchased land for a research and testing facility near Granville, Ohio. Also in 1955, Owens-Corning made the first Fortune 500 company list. The company has been on the Fortune 500 list every year since its creation.

In 1965, Owens-Corning Fiberglas Europe was formed. In 1966, Owens-Corning established a partnership with Armstrong Rubber Co. to produce fiberglass-reinforced automobile tires. By 1971, Owens-Corning's annual revenue was over $500 million. In 1974, the company opened a temporary plant to produce insulation for the Trans-Alaska Pipeline System. In 1977, Owens-Corning acquired Frye Roofing and began production of fiberglass mat to replace traditional paper mat used in roofing. Owens-Corning sales surpassed $1 billion in 1976, and sales were over $2 billion by 1979. In 1978, two shipyard workers filed a class action lawsuit against which alleged that Owens Corning and 14 other manufacturers had known about asbestos-containing products. Owens-Corning began using the United Artists cartoon character Pink Panther in its PINK Fiberglas insulation marketing in 1979.

In 1985, Owens-Corning acquired Aerospace and Strategic Metals Group in Newport Beach, California for $415 million from Armco Inc. The color PINK was trademarked through Owens-Corning in 1986, making it the first company to trademark a color. By 1990, Owens Corning was the defendant in about 84,500 asbestos-related lawsuits.


...
Wikipedia

...