Owens Corning (NYSE: OC) has agreed to acquire glass insulation maker Pittsburgh Corning for $560 million. The buyer says the acquisition will help increase its presence in regions such as Europe and Asia.
Pittsburgh Corning makes glass insulation products that offer fire and water resistance along with thermal protection. The Pittsburgh-based target is known for its FoamGlas brand that is used in commercials buildings and the industrials sector. Pittsburgh Corning generated about $240 million in sales in 2016.