Owens Corning to Acquire Glass Non-Wovens & Fabrics Businesses of Ahlstrom for $79.5M

Owens Corning

today announced that it has signed an agreement to acquire the glass non-wovens and fabrics businesses of Ahlstrom, a fiber-based materials company headquartered in Helsinki, Finland, for €73 million (U.S. $79.5 million). The transaction, which is subject to regulatory approvals, is anticipated to close in the first half of 2016. "The planned acquisition of Ahlstrom's glass non-wovens and fabrics businesses is a winning combination for our customers, our markets, and our employees," said Arnaud Genis, group president of Owens Corning's Composite Solutions Business. "This is a highly complementary acquisition that will provide new revenue, technology, talent, and access to markets. "The addition of these