Owens Corning (Toledo, Ohio, USA), a global producer of glass fiber reinforcements for composite systems, announced on July 30 that it has signed an agreement with AGY (Aiken, S.C., USA), a global producer of glass fiber yarns and high-strength glass fiber reinforcements, to better serve and grow the composites market with S-Glass reinforcements.
Owens Corning will license its S-Glass technology exclusively to AGY, which will assume commercial and operating responsibility for all of Owens Corning's S-Glass-related business, effective Aug. 1, 2014.
"This agreement enables our customers to benefit from AGY's global leadership in S-2 Glass while realizing the full potential of Owens Corning's S-Glass technology," says Steven Vermeulen, vice president and managing director of Owens Corning's Engineered Solutions business. "For Owens Corning, this agreement provides the opportunity to better realize the value of S-Glass technology, while at the same time allowing us to focus more intently on core products and initiatives."
Owens Corning S-Glass products will serve as a natural complement to AGY's existing S-2 Glass business and the agreement will enable AGY to leverage Owens Corning's global market development expertise to grow demand, particularly in the area of S-Glass engineered thermoplastics.
"With this significant addition to our S-2 Glass business, we are confident in AGY's ability to stay ahead of the needs of the market for high-performance glass fiber reinforcements," says AGY president & CEO Drew Walker.
Editor PickTeijin completes acquisition of Continental Structural Plastics
As a wholly-owned subsidiary of Teijin, CSP will remain an autonomous operation.