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 |
| Revenue |
 US$5.3 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 |
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.
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Wikipedia