DivestmentApr 15, 2026, 04:36 PM
Owens Corning Faces $140M Additional Loss on GR Business Sale
AI Summary
Owens Corning announced an additional loss on the sale of its global glass reinforcements business (GR Business) due to an amendment to the definitive agreement. The company will recognize an additional loss on sale of approximately $140 million, primarily resulting from a decrease in the agreed purchase price and changes in other net assets. This amendment was made on April 14, 2026, due to changing market conditions.
Key Highlights
- Additional loss on sale of approximately $140 million.
- Original enterprise value for GR Business sale was $755 million.
- Amendment to sale agreement signed on April 14, 2026.
- Loss due to decreased purchase price and changes in net assets.