Owens Corning: Sale of Engineered Pipe Systems Business to Saudi Firm
Owens Corning announced it will sell nearly all of its Engineered Pipe Systems (EPS) business to Saudi Arabian Amiantit Co., a joint stock firm headquartered in Damman, Saudi Arabia. Engineered Pipe Systems manufactures large-diameter glass-reinforced pipe for water and wastewater. Amiantit is a worldwide manufacturer of many pipe technologies, including glass-reinforced types. The two companies have been joint venture partners since 1977.