New Owens Corning Service Organizations
TOLEDO, Ohio, Sept. 15 - Owens Corning's (NYSE:OWC) Composites Systems Business today announced a new structure of service organizations to help meet market needs for manufacturing solutions and capitalize on technical, licensee and joint venture know-how.
The new groups are OC(TM) Alloy Services, OC(TM) Manufacturing Solutions and OC(TM) Licensee and Joint Venture Development.
"These new organizations realign resources and bundle existing Owens Corning know-how to target specific opportunities and generate faster revenue growth," said Heinz Otto, president, Composites Systems Business. "These initiatives are part of our strategic plan to be the leading global provider of composites solutions through our System Thinking(TM) approach."
This formation is part of an overall Owens Corning strategy to expand focus from products to services and capitalize on resources and expertise that have value for others.
"We are building on the successful model of Integrex(TM), the first of these service businesses Owens Corning introduced, which exceeded its first- year target for revenue in 1998 and is on track for greater growth in 1999," Otto continued. "We expect similar success with our new organizations."
OC(TM) Alloy Services
OC Alloy Services has been formed to offer system solutions for the design and fabrication of components made from alloys.
"This organization will not only provide design and fabrication services to Owens Corning and our traditional licensee and joint venture partners, but also to anyone wishing to have their proprietary designs turned into working components," Otto continued. "Our objective is to see Owens Corning parts in glass producing facilities around the world as well as in many other operations that have the need for precious metal designs and fabrication."
OC(TM) Manufacturing Solutions
Recently, the Composites Science & Technology organization began to package and market technical process skills and system design capabilities to generate additional revenue.
This concept has now been streamlined into OC Manufacturing Solutions. This new organization will focus on selling services and products to Owens Corning, its licensees and joint venture partners, as well as a wide array of industrial customers.
OC(TM) Licensee and Joint Venture Development
To bring focus, consistency and strategy into the development of the Composites Business' traditional licensee and joint venture relationships, as well as the formation of many new partnerships, the business has formed OC Licensee and Joint Venture Development.
This organization will also work with the Business' existing licensee and joint venture service team to support the evolution of both the OC Alloy Services and OC Manufacturing Solutions businesses with our licensees and affiliates.
Owens Corning is a world leader in building materials and glass fiber composites systems. The company had 1998 sales of $5 billion and employs approximately 20,000 worldwide. For more information, please visit Owens Corning's Web site at http://www.owenscorning.com .