Owens Corning (NYSE: OC), the fiberglass insulation maker, is acquiring InterWrap, manufacturer of roofing and packaging materials, for $450 million in a deal expected to close by July 1.

InterWrap will strengthen the market position of Toledo, Ohio-based Owens Corning in roofing components, says Brian Chambers, president of Owens Corning’s roofing and asphalt business. In addition to insulation, Owens Corning makes roofing and fiberglass composites, generating sales of $5.4 billion in 2015.

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