Owens Corning Sells Twintex Business Portfolio to Fiber Glass Industries

february 27 2012

Owens Corning, a leading global producer of glass fiber reinforcements for composite systems, informed that it has reached an agreement with Fiber Glass Industries (FGI) to sell its global Twintex reinforcements rovings intellectual property rights and business portfolio.

FGI currently licenses the Twintex intellectual property from Owens Corning to produce its GLASS POLYPRO roving and fabrics in the U.S. With this purchase, FGI will acquire the existing portfolio of customers, the rights to the Twintex intellectual property globally, application knowledge and the rights to the Twintex trademark.

Twintex products are made of commingled high performance glass and thermoplastic filaments. Direct roving is the base material for the Twintex product line, and can be provided with a polypropylene (PP) matrix and most recently with polyester (PET) resin. The sale is expected to close by the end of the first quarter. The terms of the transaction have not been disclosed.

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