TOLEDO - Owens Corning has expanded its global nonwovens portfolio with the acquisition of Vliepa GmbH, which specializes in the coating, printing and finishing of nonwovens, paper and film for the building materials industry.
Financial terms of the deal, which will expand Owens Corning’s ability to better serve European customers and accelerate growth of building and construction market applications in the region, were not confirmed.
“This highly complementary combination advances our global strategy of expanding deeper into the value chain and investing in high-growth markets,” said Marcio Sandri, President of Owens Corning’s Composites business. “The acquisition adds immediate coating capacity for our customers in the building materials industry, along with supporting the transformation of the construction market from traditional materials to innovative, glass-faced solutions.”
Under the terms of the deal, Owens Corning has taken ownership of two production facilities in Brüggen, Germany.
“We believe Vliepa‘s technology and capabilities are an ideal complement to our nonwoven solutions, manufacturing capacity, and commercial relationships,” added Sandri. “Our combined organization will address several key macrotrends, including sustainability, lightweight building materials, and more labor-efficient construction solutions, by delivering enhanced performance in a variety of applications, including Polyiso (polyisocyanurate) insulation and gypsum boards.”
In total, Vliepa GmbH employs about 70 people and posted 2020 sales of approximately US$30 million.