newsfilter
← Latest News
Business Wire·

Owens Corning Enters Into Amended Agreement with Praana Group for Sale of Glass Reinforcements Business

OC
  • Owens Corning amended its agreement to sell its glass reinforcements business to Praana Group, accelerating cash realization & updating sale terms.
  • The new agreement eliminates seller notes & increases up-front cash proceeds to streamline separation from the business.
  • Total enterprise value was adjusted from $755 million to $645 million to reflect changing market conditions while maintaining a consistent valuation multiple.
  • The transaction is expected to close in the second quarter of 2026, subject to regulatory approvals.
  • Sale proceeds will fund organic growth initiatives & cash returns to shareholders as part of a strategy to exit high capital-intensive businesses.
  • The move supports Owens Corning's focus on becoming a building products leader in North America & Europe with higher, more resilient margins.