Owens Corning (Toledo, OH) will invest $110 million to expand capacity at its composites operations in India. The investment will support the growing India glass fiber market through the installation of an 80,000-ton glass melter at the company’s existing facility in Taloja, India. The new melter is expected to begin start-up operations in early 2018.
“Owens Corning is the industry leader in the growing glass fiber market in India,” said Arnaud Genis, Composite Solutions Business President. “This substantial investment in our Indian business demonstrates our confidence in the strength of the composites market and our continued commitment to our composites customers in both India and globally to meet the increasing demand for innovative glass fiber products.”
The glass fiber market in India has grown at double-digit rates over the past decade and has operated at high levels of capacity utilization for the past three years.