Owens Corning Announces Capital Investment In India

Owens Corning AnnouncesCapital Investment In India

U.S.-based Owens Corning announced recently that it will add glass fiber knitting capability
at the Taloja, India, plant of Owens Corning India Ltd. (OCIL), a joint venture between Owens
Corning and India-based Mahindra & Mahindra Ltd.The company says the investment, which adds
fabric knitting to the plant’s existing glass roving operations, will supply growing market demand
in India and surrounding regions, especially for the wind energy market. India is the fifth largest
country in the world in installed capacity of windmills.Chuck Dana, Owens Corning’s composites
business president, says the investment “demonstrates [the company’s] commitment to [its]
customers’ success and their bright future by investing locally in the markets where they do
business to offer tailored, low-cost manufacturing platforms.”Details of the investment plan were
not disclosed.

Summer 2004