Owens Corning

History

2022: Rosatom structure bought Russian business Owens Corning

On December 6, 2022, the sale of the Russian business of the American manufacturer of building materials Owens Corning was announced. The assets were acquired by Umatex, a member of Rosatom. The financial terms of the transaction were not disclosed.

Under the terms of the agreement, Yumatex received the assets of the American group Owens Corning in Russia and Belarus. The subsidiary of Rosatom included a division in Belarus and two new Russian enterprises: a fiberglass production plant is located in the city of Gus-Khrustalny, Vladimir Region, and a plant for the production of thermal insulation based on stone wool is located in the Tver Region.

Rosatom structure bought the Russian business of building materials manufacturer Owens Corning

The division's strategy is aimed at further developing advanced composite technologies and entering the redistribution of finished products. The enterprises that have entered the framework of our management are market leaders in their segments. This deal will certainly accelerate the scaling of the entire business and will contribute to the growth in the production of composite materials and finished products from them in Russia, - commented on the deal, General Director of Yumatex Alexander Tyunin.

Umatex is considered one of the world leaders in the production of carbon fiber for a wide purpose. Owens Corning is engaged in the development and production of insulating, roofing and fiberglass composites, as well as related materials and products.

According to Yumatex, fiberglass is used as reinforcing elements of fiberglass and other composites in construction and medicine, machine and instrument engineering, automotive and shipbuilding, as well as in power and aviation. The company produces corrosion-resistant glass fibers in the form of a wide range of rovings and wet chopped fiber, as well as glass fabrics for various purposes. Facilities for the production of special structural glass fabrics for the manufacture of blades of wind generators used in wind power were put into operation.^[1]

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