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Chongqing CPIC acquired Owens Corning subsidiary

News International-French

9 Mar 2012

Chongqing Polycomp (CPIC) has recently acquired Brazilian Glass Fibre Producer OCV Capivari Fibras de Vidro.

CPIC is currently one of China's three largest glass fiber production bases. At the beginning of 2011, CPIC for the price of about $60 million purchased 100% of the shares of Capivari Fibras de Vidro from the world biggest fiberglass enterprise - Owens Corning Group.

Capivari Fibras de Vidro’s main business is production and sales of glass fiber products, as Owens Corning group model plant, its product sales network throughout Latin America, from technical to management are in the industrial advanced level.

This acquisition is the first of its nature by a Chinese state-owned company, which enables CPIC to enter the Brazilian as well as the South American market.

About CPIC:

The fiberglass products of CPIC have been widely utilized in construction, decoration, automotive, medical equipment, sports equipment, food packaging, aero application, mechanical and electronic fields etc. These applications have been consistently offering contributions to our society, which pushes forward our technology and improves our living quality.



Source internet

Original language Chinese