OC · Owens Corning

Owens Corning completed the divestiture of its global glass reinforcements business, a strategic move to streamline its portfolio and focus on core operations. The transaction, initially announced in February 2025, was amended in April 2026 to reduce the enterprise value from $755 million to $645 million. The company expects net after-tax cash proceeds of approximately $280 million after customary adjustments. These proceeds will be deployed according to the company's capital allocation strategy, which includes funding organic growth initiatives and returning cash to shareholders. The sale to affiliates of the Praana Group marks a significant shift in Owens Corning's business structure, potentially enhancing its financial flexibility and focus on higher-growth segments.