Owens Corning And Rhetech Sign Agreement
February 22, 2005
To meet demand in the fastest growing segment of the worldwide composites market, Owens Corning and RheTech, Inc. recently announced a licensing agreement under which RheTech will manufacture and sell in North America a proprietary long-fiber glass/polyolefin thermoplastic (LFTP) developed by Owens Corning. RheTech intends to market these new products under the RHEMAX trade name. To date, the Owens Corning product has only been available in North America as an import from production in Europe by licensee SABIC EuroPetrochemicals BV. RheTech will begin production of RHEMAX products in the third quarter of 2005 at a facility in Michigan using PerforMax(R) roving developed specifically by Owens Corning for LFTP compounding. First introduced in the 1990s, LFTP has become the solution of choice for many semi-structural automotive applications in Europe, with international demand growing 15% in the last year alone.