Owens Corning To Divest EU Plants

Law360, New York (July 17, 2007, 12:00 AM EDT) -- In a bid to quell regulatory concerns over a proposed joint venture with French building materials company Saint-Gobain, Owens Corning said Tuesday it plans to sell off two of its European glass fiber reinforcement manufacturing facilities.

The company announced the planned sale of the two plants, located in Battice, Belgium and Birkeland, Norway, in a statement Tuesday, saying the move is intended to address regulatory concerns associated with the proposed formation of a joint venture between Vetrotex—Saint-Gobain's reinforcement and composites business—and Owens Corning's reinforcements business....
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