Owens Corning Expands Output in China

Owens Corning, a building materials maker, said Wednesday it would add more glass fiber knitting equipment at its factory in Hanghou, Zhejiang province. The company decided to invest 60 billion yuan to establish Building Materials Glass Fiber Project in Yuhang Economic Development Zone.

At present, Owens Corning has three plats in China to produce glass fiber and glass fiber woven to supply the wind energy market.

The addition, its third expansion in three years, doubles its capacity for knitting technical fabrics that are used in blades for turbine manufacturers to supply the wind energy market.

Owens Corning returned to profitability in the third quarter on aggressive cost and inventory reductions, although revenue was still slumping on weakness in the housing industry.

China is already the world's largest markets in the world of composite materials. "Considering China's population base, the market prospect of China's glass fiber industry is very impressive." Jean-Marc Sinkora, General Manager in China said.