Owens-Corning Fiberglass Corporation
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 country's premier 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.