Owens Corning's Strategic Shift: Selling Glass Reinforcements Business to Praana Group

Owens Corning, a leading global building and construction materials company, has announced its intention to sell its glass reinforcements business to Praana Group, a move that aligns with its strategic plan to focus on residential and commercial building products in North America and Europe. This transaction, valued at $755 million, is expected to close in 2025, subject to customary regulatory approvals and other conditions.



The glass reinforcements business, part of Owens Corning's Composites segment, manufactures, fabricates, and sells glass fiber reinforcements for a wide variety of applications in wind energy, infrastructure, industrial, transportation, and consumer markets. The business generated revenue of approximately $1.1 billion in 2024 and has approximately 4,000 employees across a global footprint that includes 18 operations in 12 countries.

This strategic move allows Owens Corning to sharpen its product and geographic focus, driving positive change in the industry and maximizing long-term shareholder value. The company will retain other businesses within its Composites segment, including the vertically integrated glass nonwovens business that supports its Roofing segment and other building products customers, as well as its structural lumber business. These businesses will operate within Owens Corning's Roofing segment moving forward.



For Praana Group, this acquisition represents a significant opportunity to grow its footprint in glass reinforcements with new geographies, broaden the scope of its operations, and enhance its ability to deliver solutions that contribute to global efforts for a more sustainable and efficient future. The acquisition will also strengthen Praana Group's competitiveness and operational efficiencies in glass fiber reinforcements for composites for the industrial sector.

Vishal Goenka, Vice Chairman of Praana Group, and Anuj Goenka, Executive Board Member of Praana Group, stated, "The glass fiber reinforcement business is highly competitive and is poised for growth in the medium to long run, especially on account of the global push towards adoption of clean energy, reduction of carbon footprint, and material substitution. This strategic acquisition will grow our footprint in glass reinforcements with new geographies, broaden the scope of our operations, and enhance our ability to deliver solutions that contribute to global efforts for a more sustainable and efficient future. It will also strengthen Praana Group’s competitiveness and operational efficiencies in glass fiber reinforcements for composites for the industrial sector."

Vishal Shah, Executive Director and Global Head of M&A for Praana Group, added, "Praana has a long track record of acquiring carve-outs and establishing them as thriving, independent companies. We are highly enthusiastic about the acquisition of Owens Corning’s glass reinforcements business and believe it represents a great opportunity to implement our transformational growth strategy."

In conclusion, the sale of Owens Corning's glass reinforcements business to Praana Group is a strategic move that aligns with both companies' long-term growth strategies and commitment to sustainability. This transaction will enable Owens Corning to focus on its core building products and drive long-term financial performance, while Praana Group will expand its glass reinforcements business and strengthen its position in the global specialty chemicals landscape.