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27th June 2018, Toledo, OH

Owens Corning announces supply agreement with CPIC

The agreement is focused within China, which represents the world’s largest market for wind energy. Owens Corning has entered into a Strategic Cooperation and Supply Agreement with Chongqing Polycomp International (CPIC) for joint investment in technology, and construction and operation by CPIC of a new facility dedicated to the manufacture of high-modulus glass fibre products in China.

“This agreement positions two leading players in the wind industry to deliver the most advanced glass fibre technologies to serve growing industry demand for high-modulus glass,” said Marcio Sandri, President of Owens Corning’s Composites business. “The combination of innovative glass technology, enhanced quality and efficiency, and large-scale volumes will be beneficial to our respective customers. Wind energy is a key strategic market for Owens Corning representing a major platform for our growth in China – and globally.”

Building world’s largest operation

Global demand for high-modulus glass fibre products is expected to grow in the coming years, the company reports. This high-performance glass fibre product enables the construction of longer, stronger, and lighter wind blades, which is critical to enhancing the competitiveness of wind energy and proliferating the use of composites in supporting alternative energy applications.

“Being leaders in the wind industry, especially in high-modulus products, OC and CPIC both have advantages in products, technology and talents. With this agreement, both parties will closely cooperate using the most advanced technology, equipment and management systems to build the world’s largest operation of its kind. This strategic cooperation will drive industry growth and deliver complementary advantages for both companies,” said Wenxue Zhang, Chairman of CPIC.

New facility

The new facility will be located in Chongqing, China. Expected to be operational by mid-2019, the facility will include a glass furnace with annual production capacity of 110,000 metric tons.

The agreement is focused within China, which represents the world’s largest market for wind energy and is particularly well-suited for this large-scale capacity investment. While Owens Corning and CPIC will work together to enhance quality and efficiency at the manufacturing operation, the companies will maintain independent commercial operations and continue to provide their respective product offerings to customers through separate commercial channels.

“We look forward to working with CPIC and building on this opportunity to advance composites technology and deliver on the needs of our customers,” added Sandri.

www.owenscorning.com

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