Owens Corning to Sell Glass Reinforcements Business to India's Praana Group for $755 Million

MT Newswires Live

02/14

Owens Corning (OC) said it has agreed to sell its glass reinforcements business to India's Praana Group for an enterprise value of $755 million.

The transaction is expected to close this year.

The business generated 2024 revenue of about $1.1 billion and has around 4,000 employees in 12 countries, the company said.

Owens said the sale is a part of a plan to focus on residential and commercial building products in North America and Europe.

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