Owens-Corning Fiberglass Corporation
of USA
1935 Owens-Illinois Glass Co began conducting experiments with glass fibres, learning that one of its chief competitors, Corning Glass Works, was doing similar research. After discovering how to make very fine glass fibres a joint venture between Owens-Illinois and Corning Glass Works, the USA's principal manufacturer of glass products, in 1935.
The joint venture began developing new products and technologies immediately, including the first continuous filament fibres in 1937.
1938 A new company was formed from the joint venture. It was called Owens-Corning Fiberglass Corporation; its mission was to manufacture glass-fibre products, market them to homes and industry, and develop new related technologies. The initial products were fibreglass insulation and furnace filters. Development of marketable fibreglass products quickly followed. Corning and Owens, with their virtual monopoly on fibreglass technology, profited greatly.
WWII Some of the technologies were implemented during World War II, when Owens Corning manufactured insulation and fireproof materials for ships and aircraft.
1952 Following an antitrust ruling that barred Corning and Owens from controlling Owens-Corning, the joint venture was taken public in 1952, with shares distributed, one-third each, to Owens, Corning, and the public. Subsequently, both Owens-Illinois and Corning Glass sold their shares in Owens-Corning.
1960s Among the new products was a new glass-fibre yarn with superior flexing and handling characteristics, and the development of the glass-fibre-reinforced-plastic underground storage tank, which was lighter and stronger than steel, but they were also more expensive. The tank's non-corrosive properties were a key selling point, long before government-mandated codes for such tanks.
The company pioneered the use of fibreglass in the recreation industry - by the late 1950s, more than 90 percent of all fishing rods in the United States were made of glass-fibre-reinforced materials; by the late 1960s, such materials were used for components were common in new cars; the company was also heavily involved in producing components for fibreglass pleasure-boat hulls.
1985 Acquired the aerospace and strategic-materials group of Armco, mainly to take control of Armco's high-technology and composites subsidiary, Hitco.
1994 Acquired Pilkington Insulation, following which the name of the company was changed to Owens-Corning Building Products (UK)
See Also
Sources of Information
- [1] Company history