Owens Corning announced in July that it will divest 2 glass fiber plants in Battice, Belgium, & Birkelend, Norway. The sale addresses regulatory concerns about the company's previously announced JV with Saint-Gobain Vetrotex (Chambery, France & Valley Forge, Pa). Owens Corning said that it is currently in discussions with Saint-Gobain regarding the potential conversion of the proposed joint venture into an outright acquisition of the Vetrotex business. Should such conversion occur, it is expected that the planned sale of the glass facilities would go forward to address regulatory concerns associated with the acquisition transaction. For its part, SG confirmed that acquisition discussions are taking place. SG has retained its US reinforcement fiber activities based at Wichita Falls, TX, which will be sold independently of the entities sold to Owens Corning. Closure of an acquisition, says Saint-Gobain, would be scheduled by year's end, subject to the agreement of competition authorities in Europe.
