Owens Corning to Invest Heavily in Indian Composites Operation
Owens Corning has announced plans to invest over $100 million to expand its composites operations in India.
The investment will support the growing India glass fibre market through the installation of a state-of-the-art 80,000-ton glass melter at the Company’s existing facility in Taloja, India. The new melter is expected to begin start-up operations in early 2018.
Owens Corning is one of the industry leader in the Indian glass fibre market and the substation investment shows a continued commitment to growing their business in the area to meet globally increasing demand for composite materials.
The glass fibre market in India has grown at double-digit rates over the past decade and has operated at high levels of capacity utilisation for the past three years.
Expanding their existing operations in India allows the company to benefit from a low-delivered cost platform while supporting growth in this region and worldwide. Additionally, this facility will leverage the newest technologies Owens Corning has developed to enable greater competitiveness in the market.