Owens Corning (OC) announced today that the acquisition of Paroc Group has been completed.
Owens Corning (OC) announced today that it has received all regulatory clearances and completed the acquisition of Paroc Group (â€œParocâ€�), one of Europeâ€™s leading manufacturers of fire-proof stone wool insulation and energy-efficient solutions, for an enterprise value of approximately â‚¬900 million.
“Paroc has a long-term home now, as a part of Owens Corningâ€™s insulation business in Europe and beyond. We are excited about the new opportunities that our journey together with Owens Corning will presentâ€�, says Anders Dahlblom, Parocâ€™s Managing Director.
â€œThis is an important day for Owens Corningâ€™s Insulation business,â€� said Julian Francis, president of Owens Corningâ€™s Insulation Business. â€œWeâ€™ve had a strategic goal to broaden our product portfolio and diversify our geographic scope to better address our customersâ€™ needs and support their growth. The acquisition of Paroc does both. We now have a leading position in Europe and in the global mineral wool business.â€�
FÃ¶r ytterligare information:
Anders Dahlblom, administrerende direktÃ¸r, Paroc Group, tlf. + 358 46 876 8904
Olga van Iterson, KommunikationsdirektÃ¶r, Paroc Group, tel. +358 50 325 2376.
Paroc er en af Europas fÃ¸rende producenter af energieffektive og brandsikre isoleringslÃ¸sninger. Gennem vores 80-Ã¥rige historie, har vi opbygget et ry for hÃ¸j produktydelse, teknisk ekspertise og bÃ¦redygtighed blandt producenter af enfamilieshuse, arkitekter, entreprenÃ¸rer, forhandlere og industrielle bygherrer. Vores operationer er baseret pÃ¥ kunde- og personalefokus, kontinuerlig innovation, lÃ¸nsom vÃ¦kst samt bÃ¦redygtig udvikling. Parocs produktudvalg omfatter bygningsisolering, teknisk isolering, marineisolering samt akustiske produkter. Produkterne fremstilles i Finland, Sverige, Litauen, Polen og Rusland. Paroc har salgskontorer og reprÃ¦sentanter i 13 europÃ¦iske lande.
About Owens Corning
Owens Corning (NYSE: OC) develops, manufactures, and markets insulation, roofing, and fiberglass composites. Global in scope and human in scale, the companyâ€™s market-leading businesses use their deep expertise in materials, manufacturing, and building science to develop products and systems that save energy and improve comfort in commercial and residential buildings. Through its glass reinforcements business, the company makes thousands of products lighter, stronger, and more durable. Ultimately, Owens Corning people and products make the world a better place. Based in Toledo, Ohio, Owens Corning posted 2016 sales of $5.7 billion and employs about 19,000 people in 37 countries. It has been a Fortune 500Â® company for 63 consecutive years. For more information, please visit www.owenscorning.com.
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