Wednesday, December 22, 2010
COLUMBIA, S.C. - December 22, 2010 - Owens Corning (NYSE:OC), a leading global producer of glass fiber reinforcements for composite systems and residential and commercial building materials, announced today with the state of South Carolina that the company intends to invest $36 million to add a production line for non-woven glass fiber mat at its facility in Aiken. The company said it was encouraged to move forward on the project, which would employ 24 additional people, due in part to tax credits from the state of South Carolina linked to the employment increase.
Subject to business and market conditions, the line is scheduled to begin production in mid-2012 and produce materials used in industrial and construction applications.
"We are pleased to have the ongoing support of the local community and the state as we seek to expand the facility, add to the economic strength of Aiken County and South Carolina, and meet the demands of our customers in the future," said Marcio Sandri, vice president and general manager Americas, Owens Corning Composite Solutions Business.
"Owens Corning is a world-class company and one that has been an important part of the Aiken business community for more than five decades," said Joe Taylor, Secretary of Commerce. "This investment reaffirms the company's commitment to our state and to the local community. Investments like this continue to demonstrate South Carolina's assets, such its business-friendly climate and talented workforce, are helping existing businesses grow and increase our state's ability to attract new investment and jobs. We recognize that Owens Corning had a world of choices when choosing where to invest and we appreciate their decision to expand in South Carolina."
Ronnie Young, chairman of Aiken County Council said, "During these turbulent economic times we are appreciative of Owens Corning's continued investment and job creation in Aiken County. The Aiken County Council has worked hard over the years to provide an environment in which our existing industries can grow and be profitable. We appreciate Owens Corning's commitment to Aiken County and the opportunities it has provided our workforce over the last half century."
"We have felt for a long time that it would be our existing industries in Aiken County that would help lead us out of these economic times," commented Gary Stooksbury, chairman, Economic Development Partnership. "This announcement by Owens Corning is a great example of the positive business climate and quality workforce in our community. They have been a part of our industry base for 50 years, and we wish them continued success."
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