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Owens Corning of the United States announced on August 24 that it plans to invest US$110 million to expand the production capacity of composite materials in India
.
The investment will install a glass melting furnace weighing 80,000 tons in a plant in India to support the growing demand in the Indian glass fiber market.
The new melting furnace will be officially launched in early 2018
.
Owens Corning said that the reason for the expansion is that the Indian glass fiber market has grown at a double-digit rate in the past ten years and the high capacity utilization rate in the past three years
.
Owens Corning specializes in the production of insulating materials and glass fiber composite materials
.
In 2015, sales reached 5.
4 billion U.
S.
dollars, with 16,000 employees in 25 countries around the world
.
.
The investment will install a glass melting furnace weighing 80,000 tons in a plant in India to support the growing demand in the Indian glass fiber market.
The new melting furnace will be officially launched in early 2018
.
Owens Corning said that the reason for the expansion is that the Indian glass fiber market has grown at a double-digit rate in the past ten years and the high capacity utilization rate in the past three years
.
Owens Corning specializes in the production of insulating materials and glass fiber composite materials
.
In 2015, sales reached 5.
4 billion U.
S.
dollars, with 16,000 employees in 25 countries around the world
.
