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Owens Corning, a leading global producer of glass fiber reinforcements for composite systems, today announced it has sold its VersaMat® polyester mat business based in Louisville, Kentucky, to Indratech Performance Fiber Systems. The business and its employees are transitioning to Indratech Performance Fiber Systems.
Indratech is a leading manufacturer of advanced fiber materials used in seating, bedding, acoustical and packaging applications. With this purchase, Indratech adds a third site to the company, extending its technology base and application portfolio in the automotive market.
The terms of the transaction are not being disclosed.
About Owens CorningOwens Corning is a leading global producer of residential and commercial building materials, glass-fiber reinforcements and engineered materials for composite systems. A Fortune® 500 Company for 58 consecutive years, Owens Corning is committed to driving sustainability by delivering solutions, transforming markets and enhancing lives. Founded in 1938, Owens Corning is a market-leading innovator of glass-fiber technology with sales of $5.3 billion in 2011 and about 15,000 employees in 28 countries on five continents.
About IndratechIndratech is North America’s leading manufacturer of polyester-based alternatives to traditional cushioning products. Headquartered in Troy, Michigan, the company is clear in its mission: to offer a safer and healthier replacement to conventional commodity products. Indratech uses a proprietary manufacturing process and world-class technology to distinguish its patented Indura® Performance Fiber™ from the industry’s standard applications. With manufacturing facilities in Michigan and Indiana, Indratech materials are used for acoustical, furniture, bedding, athletics, packaging, transportation and other industries.
More information: www.owenscorning.com - www.indratech-us.com