Owens Corning
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Owens Corning is an American company that develops and produces insulation, roofing, and fiberglass composites and related products. It is the world's largest manufacturer of fiberglass composites. It was formed in 1935 as a partnership between two major American
glassworks Glass production involves two main methods – the float glass process that produces sheet glass, and glassblowing that produces bottles and other containers. It has been done in a variety of ways during the history of glass. Glass container p ...
, Corning Glass Works and
Owens-Illinois O-I Glass, Inc. is an American company that specializes in container glass products. It is the largest manufacturer of glass containers in North America, South America, Asia-Pacific and Europe (after acquiring BSN Glasspack in 2004). Company ...
. The company employs approximately 19,000 people around the world. Owens Corning has been a Fortune 500 company every year since the list was created in 1955.
The Pink Panther ''The Pink Panther'' is an American media franchise primarily focusing on a series of comedy-mystery films featuring an inept French police detective, Inspector Clouseau, Inspector Jacques Clouseau. The franchise began with the release of the fil ...
acts as the company's mascot and appears in most of their advertisements.


History


1935–1980

Owens-Corning Fiberglas Company was formed in 1935 through the merger of
Owens-Illinois O-I Glass, Inc. is an American company that specializes in container glass products. It is the largest manufacturer of glass containers in North America, South America, Asia-Pacific and Europe (after acquiring BSN Glasspack in 2004). Company ...
and Corning Glass Works. It became a separate company in 1938 with its headquarters established in Toledo, Ohio. In 1938, the company sales reached $2.6 million. The company held its
initial public offering An initial public offering (IPO) or stock launch is a public offering in which shares of a company are sold to institutional investors and usually also to retail (individual) investors. An IPO is typically underwritten by one or more investm ...
on the
New York Stock Exchange The New York Stock Exchange (NYSE, nicknamed "The Big Board") is an American stock exchange in the Financial District, Manhattan, Financial District of Lower Manhattan in New York City. It is the List of stock exchanges, largest stock excha ...
in 1952. In 1955, Owens-Corning purchased land for a research and testing facility near
Granville, Ohio Granville is a Village (United States)#Ohio, village in Licking County, Ohio, United States. The population was 5,946 at the United States Census 2020, 2020 census. The village is located in a rural area of hills, known locally as the Welsh Hills ...
. Also in 1955, Owens-Corning made the first
Fortune 500 The ''Fortune'' 500 is an annual list compiled and published by ''Fortune (magazine), Fortune'' magazine that ranks 500 of the largest United States Joint-stock company#Closely held corporations and publicly traded corporations, corporations by ...
company list. The company has been on the
Fortune 500 The ''Fortune'' 500 is an annual list compiled and published by ''Fortune (magazine), Fortune'' magazine that ranks 500 of the largest United States Joint-stock company#Closely held corporations and publicly traded corporations, corporations by ...
list every year since its creation. In 1965, Owens-Corning Fiberglas Europe was formed. In 1966, Owens-Corning established a partnership with Armstrong Rubber Co. to produce fiberglas-reinforced automobile tires. By 1971, Owens-Corning's annual revenue was over $500 million. In 1974, the company opened a temporary plant to produce insulation for the
Trans-Alaska Pipeline System The Trans-Alaska Pipeline System (TAPS) is an oil transportation system spanning Alaska, including the trans-Alaska crude-oil pipeline, 12 pump stations, several hundred miles of feeder pipelines, and the Valdez Marine Terminal. TAPS is one o ...
. In 1977, Owens-Corning acquired Frye Roofing and began production of fiberglas mat to replace traditional paper mat used in roofing. Owens-Corning sales surpassed $1 billion in 1976, and sales were over $2 billion by 1979. In 1980, Owens Corning entered into a long-standing agreement to use the Pink Panther as its brand mascot. "He has become an important part of our brand," said Christian Nolte, director of strategic marketing for the manufacturer of building materials and fiberglass. "The Pink Panther is as relevant today as he was 25 years ago. He brings our trademark color pink to life."


Asbestos controversy

In 1978, two shipyard workers filed a class action lawsuit against which alleged that Owens-Corning and 14 other manufacturers had known about asbestos-containing products. Over the next three decades, the company was named in hundreds of thousands of asbestos lawsuits. By 2000, it had settled with 440,000 people who claimed Owens Corning's products caused them to develop asbestos-related illnesses such as
mesothelioma Mesothelioma is a type of cancer that develops from the thin layer of tissue that covers many of the internal organs (known as the mesothelium). The area most commonly affected is the lining of the lungs and chest wall. Less commonly the lini ...
.


1981–present

In 1985, Owens-Corning acquired Aerospace and Strategic Metals Group in
Newport Beach, California Newport Beach is a coastal city of about 85,000 in southern Orange County, California, United States. Located about southeast of downtown Los Angeles, Newport Beach is known for its sandy beaches. The city's harbor once supported maritime indu ...
for $415 million from Armco Inc. The color PINK was trademarked through Owens-Corning in 1986, making it the first company to trademark a color. By 1990, Owens-Corning was the defendant in about 84,500 asbestos-related lawsuits. The company opened an Asia/Pacific division in 1993. In May 1994, Owens-Corning acquired UC Industries, which produced Foamular polystyrene insulation, as a wholly owned subsidiary. In 1996, the company changed its name to Owens Corning. In May 1997, Owens Corning acquired Fibreboard Corporation, a vinyl siding and other industrial material manufacturer, which became a wholly owned subsidiary of Owens Corning. The company was ordered to pay $5 million to an asbestos victim in 1997, making it the highest jury verdict in the history of the United States for a single non-malignant asbestos case. In 1999, a jury in federal district court in Florida awarded $1.8 million compensatory damages and $31 million punitive damages against the company for asbestos products. The company filed for
Chapter 11 Chapter 11 of the United States Bankruptcy Code ( Title 11 of the United States Code) permits reorganization under the bankruptcy laws of the United States. Such reorganization, known as Chapter 11 bankruptcy, is available to every business, w ...
bankruptcy in 2000. In 2002, Owens Corning removed its shares from the
New York Stock Exchange The New York Stock Exchange (NYSE, nicknamed "The Big Board") is an American stock exchange in the Financial District, Manhattan, Financial District of Lower Manhattan in New York City. It is the List of stock exchanges, largest stock excha ...
. In 2006, the company was listed on the New York Stock Exchange again under ticker "OC." In 2007, Owens Corning announced a joint venture with Saint-Gobain named OCV Reinforcements. Owens Corning partnered with
DuPont Dupont, DuPont, Du Pont, duPont, or du Pont may refer to: People * Dupont (surname) Dupont, also spelled as DuPont, duPont, Du Pont, or du Pont is a French surname meaning "of the bridge", historically indicating that the holder of the surname re ...
in 2011 to create a steel and foam energy reduction (SAFER) barrier around auto racetracks. In July 2015, the company announced it would be moving a manufacturing center for mineral wool insulation into an empty plant west of
Joplin, Missouri Joplin is a city in Jasper County, Missouri, Jasper and Newton County, Missouri, Newton counties in the southwestern corner of the U.S. state of Missouri. The bulk of the city is in Jasper County, while the southern portion is in Newton County. J ...
. In May 2024 the company completed the acquisition of Masonite International, a provider of interior and exterior door systems, for $3.9B.


Products

In 1939, the U.S. Navy Bureau of Ships made Owens-Corning insulation standard in new warship construction. Warship insulation, called Navy Board, was a permanent form-board insulation covered with woven continuous fiber cloth. Owens-Corning produced a prototype boat hull constructed of fiber glass-reinforced plastic in 1944. In 1945, the company worked with an automaker to produce the first fiberglas-reinforced plastic car body. In 1953,
General Motors General Motors Company (GM) is an American Multinational corporation, multinational Automotive industry, automotive manufacturing company headquartered in Detroit, Michigan, United States. The company is most known for owning and manufacturing f ...
used this type of body in the
Chevrolet Corvette The Chevrolet Corvette is a line of American two-door, two-seater sports cars manufactured and marketed by General Motors under the Chevrolet marque since 1953. Throughout eight generations, indicated sequentially as C1 to C8, the Corvette is not ...
. In 1954, the company invented a process to make centrifugally-spun fiberglas wool, which became the standard process for producing fiberglas insulation. In 1955, Owens-Corning introduced its Perma-Ply roofing material for built-up room insulation covering. The company created its first all fiber (AF) fiberglas wool in 1956. To distinguish its product, the company dyed their insulation
pink Pink is a pale tint of red, the color of the Dianthus plumarius, pink flower. It was first used as a color name in the late 17th century. According to surveys in Europe and the United States, pink is the color most often associated with charm, p ...
by adding red dye to the AF wool. However, considering that the coloring made the insulation look pink, the company was concerned that the color would discourage the predominantly male-oriented market away from the material. As such, they decided to remove the coloring from their insulation, only to receive customer requests for the coloring to be restored. The company resumed the coloring in the face of such customer interest to the point of licensing the
United Artists United Artists (UA) is an American film production and film distribution, distribution company owned by Amazon MGM Studios. In its original operating period, it was founded in February 1919 by Charlie Chaplin, D. W. Griffith, Mary Pickford an ...
cartoon character the Pink Panther in 1979 as the product's mascot. Furthermore, the company trademarked the coloring in 1987, the first time a color was used for that purpose. After the January 27, 1967,
Apollo 1 Apollo 1, initially designated AS-204, was planned to be the first crewed mission of the Apollo program, the American undertaking to land the first man on the Moon. It was planned to launch on February 21, 1967, as the first low Earth orbital ...
fire which killed three astronauts,
NASA The National Aeronautics and Space Administration (NASA ) is an independent agencies of the United States government, independent agency of the federal government of the United States, US federal government responsible for the United States ...
worked with Owens-Corning and
DuPont Dupont, DuPont, Du Pont, duPont, or du Pont may refer to: People * Dupont (surname) Dupont, also spelled as DuPont, duPont, Du Pont, or du Pont is a French surname meaning "of the bridge", historically indicating that the holder of the surname re ...
to develop beta cloth, a fireproof cloth of woven fiberglas coated with
Teflon Polytetrafluoroethylene (PTFE) is a synthetic fluoropolymer of tetrafluoroethylene, and has numerous applications because it is chemically inert. The commonly known brand name of PTFE-based composition is Teflon by Chemours, a spin-off from ...
, as a replacement for the
nylon Nylon is a family of synthetic polymers characterised by amide linkages, typically connecting aliphatic or Polyamide#Classification, semi-aromatic groups. Nylons are generally brownish in color and can possess a soft texture, with some varieti ...
outer layer of the Apollo/Skylab A7L
space suit A space suit (or spacesuit) is an environmental suit used for protection from the harsh environment of outer space, mainly from its vacuum as a highly specialized pressure suit, but also its temperature extremes, as well as radiation and ...
. In February 2017, Owens Corning received the Asthma and Allergy Friendly certification for its Pure Safety high-performance insulation. "Owens Corning now joins a select group of manufacturers that are focused on product innovation to address people's exposure to allergens and irritants in their homes," said Julian Francis, president of insulation, Owens Corning. At the TCT Show in
Birmingham Birmingham ( ) is a City status in the United Kingdom, city and metropolitan borough in the metropolitan county of West Midlands (county), West Midlands, within the wider West Midlands (region), West Midlands region, in England. It is the Lis ...
, the XStrand family of materials was introduced. These composites are used for
3D printing 3D printing, or additive manufacturing, is the construction of a three-dimensional object from a CAD model or a digital 3D model. It can be done in a variety of processes in which material is deposited, joined or solidified under computer ...
.


Plants

The company has 30 composites facilities, 31 insulation facilities, and 16 roofing facilities.


Environmental work

In the
Kansas City metropolitan area The Kansas City metropolitan area is a bi-state metropolitan area anchored by Kansas City, Missouri. Its 14 counties straddle the border between the U.S. states of Missouri (9 counties) and Kansas (5 counties). With and a population of more t ...
, Owens Corning purchases locally sourced recycled glass from Ripple Glass to manufacture fiberglas insulation in its local manufacturing plant. The joint effort between Owens Corning and Ripple Glass is helping to greatly reduce the amount of glass that would have been deposited in local Kansas City landfills. The Owens Corning Roofing and Asphalt Shingle Recycling Program was launched in 2009 to keep shingles out of landfills. In 2013, Constellation Energy built a 2.7-megawatt solar power system at an Owens Corning insulation plant in Delmar, New York. The power system, which is leased to Owens Corning, can produce 3.3 million kilowatt hours of electrical energy in a year. The
National Safety Council The National Safety Council (NSC) is a 501(c)(3) nonprofit, public service organization promoting health and safety in the United States. Headquartered in Itasca, Illinois, NSC is a member organization, founded in 1913 and granted a congress ...
awarded Owens Corning the Green Cross for Safety medal in 2014. Owens Corning received a perfect score of 100 percent on the 2015 Corporate Equality Index released by the Human Rights Campaign. Owens Corning has been recognized on the Dow Jones Sustainability World Index for six consecutive years as of 2015. It is also ranked number 1 in the 100 Best Corporate Citizens ranking by Corporate Responsibility Magazine in 2022.


References


External links

* {{Authority control * Glassmaking companies of the United States Asbestos Manufacturing companies based in Ohio Companies based in Toledo, Ohio Manufacturing companies established in 1935 1935 establishments in Ohio Companies that filed for Chapter 11 bankruptcy in 2000 Companies listed on the New York Stock Exchange 2006 initial public offerings 1950s initial public offerings Companies in the S&P 400 Former joint ventures