TOLEDO, Ohio, May 2 — Owens Corning (NYSE: OC) today announced that it has completed the sale of its glass reinforcements business to Praana Group. The transaction strengthens Owens Corning as a focused building products leader in North America and Europe and enhances the company’s capital efficiency.
The terms of the transaction remain as announced on April 15, 2026, with an enterprise value of $645 million and increased upfront cash proceeds that accelerate cash realization. Owens Corning’s cash proceeds from the transaction of approximately $280 million will be used to fund organic growth initiatives and cash returns to shareholders. In addition, the company expects to generate additional cash of approximately $50 million to $70 million from excess alloy sales over the next year.
“Over the past few years, we have advanced our strategy to focus on branded residential building products in specific geographies where we can build market-leading positions and maximize long-term shareholder value,” said Brian Chambers, Owens Corning Chair and Chief Executive Officer. “Closing this transaction represents another key step forward in reshaping Owens Corning as a more integrated building products leader that generates strong cash flows to accelerate growth and support our capital allocation strategy.”
Chambers continued, “I want to thank the glass reinforcements team for their dedication to safety, quality, and customer success. Their contributions have been instrumental in building a business that is well-positioned for future opportunities under Praana Group’s ownership.”
