Owens Corning has acquired Thermafiber Inc., the Toledo-based building-materials manufacturer announced Monday.
Indiana-based Thermafiber produces mineral wool industrial insulation and commercial products. Mineral wool is like fiber-glass insulation but is made from rocks and minerals instead of glass.
Terms of the deal were not disclosed.
The move will add 150 employees to OC's roster. Thermafiber has 110 hourly workers and 40 salaried employees. The deal includes a 145,000-square-foot manufacturing facility in Wabash, Ind.
“The acquisition of Thermafiber is an outstanding addition for Owens Corning and our customers,” Joe Ochoa, vice president and general manager of engineered insulation systems, said in a statement. “Mineral wool insulation adds to our product portfolio and helps us to provide access to high-temperature commercial building applications.”
Mineral wool often is used in high-temperature builds.
Thermafiber was founded in 1934. Its products support fire block and fire blankets. They also are used in curtain wall applications spanning various markets. Thermafiber products are installed in six of the tallest buildings in the world, including One World Trade Center in New York City and Burj Khalifa tower in Dubai. The firm's insulation is noncombustible, inorganic, and mold-resistant. It contains up to 90 percent recycled content.
The acquisition will provide Owens Corning “with a broad insulation portfolio now encompassing fiberglass, foam, and mineral wool insulation products,” the company said in a statement. “Over the past 75 years, Owens Corning has earned a strong reputation for building science and sustainability, and we look forward to applying this expertise to benefit customers who pursue mineral wool insulation applications,” Mr. Ochoa said.
Kris Turner can be reached at: firstname.lastname@example.org or 419-724-6103.