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Published: Saturday, 8/5/2006

Owens Corning reports higher profits, sales

Owens Corning said yesterday it has triple the profit and higher sales in its second quarter than for the same period a year ago.

The Toledo manufacturer of building materials and fiber glass recorded sales of $1.7 billion, up from $1.6 billion a year ago, and profit of $251 million, more than triple the $67 million of a year ago. The firm s bottom line got a major boost from a

$169 million change in income tax liability calculations.

OC expects to exit Chapter 11 bankruptcy protection this fall after six years.

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