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According to the company, composites benefited from consistently strong global demand and positive pricing momentum, which produced strong operating performance. Roofing continued to sustain margins above 20% in the quarter, despite a significant market correction. Insulation achieved higher pricing in the quarter and maintained a disciplined approach to managing capacity as challenging market conditions persisted.
“Owens Corning repurchased $100 million of shares during the quarter based on our strong outlook,” said Mike Thaman, chairman and CEO. “We’re on track to deliver significant EBIT growth in 2010 in a difficult economic environment.”
For additional details, visit www.owenscorning.com.