Owens Corning recently announced the sale of nearly all of its
Engineered Pipe Systems business to Amiantit Co., a joint stock
company headquartered in Dammam, Saudi Arabia. Terms of the sale were
not disclosed. Engineered Pipe Systems manufactures and sells large-
diameter glass-reinforced plastic (GRP) pipe for the transport of
water and wastewater. Amiantit is globally active in many different
pipe technologies and is a leading manufacturer of GRP pipe and other
types of pipe used in different applications. The company has been a
business and joint venture partner with Owens Corning since 1977. The
sale includes two legal entities in Sandefjord, Norway -- Flowtite
Technology AS and Flowtite AS. Also included in the sale are the
shares held by a subsidiary of EPS in a joint venture in Botswana,
and a pipe manufacturer in India. The units were both subsidiaries of
Engineered Pipe Systems Inc., a U.S.- based holding company that is
an indirect wholly owned subsidiary of Owens Corning. Excluded from
the sale are shares held by Owens Corning in a joint venture in
Turkey.
For more information, visit http://www.owenscorning.com or
http://www.Flowtite.com.
