Owens Corning, Toledo, Ohio, announced a strategic cooperation and supply agreement with Chongqing Polycomp International Corp. (CPIC), Chongqing, China, for joint investment in technology and construction and operation by CPIC of a new facility dedicated to the manufacturing of high-modulus glass fiber products in China.
"This agreement positions two leading players in the wind industry to deliver the most advanced glass fiber technologies to serve growing industry demand for high-modulus glass," says Marcio Sandri, president of Owens Corning's composites business.
The new facility will be operational by mid-2019 in Chongqing, China, with an annual production capacity of 110,000 metric tons.
Owens Corning and CPIC will work together in manufacturing operations but will remain separate in commercial operations and provide products through different commercial channels.
"Being leaders in the wind industry, especially in high-modulus products, Owens Corning and CPIC both have advantages in products, technology and talents. With this agreement, both parties will closely cooperate using the most advanced technology, equipment and management systems to build the world's largest operation of its kind. This strategic cooperation will drive industry growth and deliver complementary advantages for both companies," says Wenxue Zhang, chairman of CPIC.
