Owens Corning (OC): restructuring charge — Owens Corning sells glass reinforcements business for $755M; expects impairment and leadership change

Owens Corning

Owens Corning sells global glass reinforcements business for $755M enterprise value to Triumph/3B, affiliates of Praana Group.
Expected after-tax net proceeds ~$360M including $225M promissory notes (unsecured at 17%, secured at 10%).
Marcio Sandri steps down as executive officer, effective Feb 13, remains President, Composites.
Composites segment eliminated; glass nonwovens and structural lumber retained and integrated into Roofing and Insulation.
Impairment charge expected but not yet estimable; GR business classified as held for sale, reported as discontinued ops from Q1 2025.

item 2.06 item 5.02 item 8.01

Executive movements

Machine-extracted from this filing. Every card cites the SEC source. See all recent executive movements.

Role change

Marcio A. Sandri

President, Composites

OC · Owens Corning

Effective: 2025-02-13
Filed: February 14, 2025, 6:59 PM ET

In connection with the Transaction, Marcio A. Sandri, will remain in the role as the Company’s President, Composites, but will no longer serve as an executive officer of the Company, effective as of February 13, 2025.

Key facts

Extracted from this filing and checked against the source text.

Executive change SEC 8-K Item 5.02 confidence 0.95

Marcio A. Sandri changed role as President, Composites at Owens Corning.

Action: no longer serve as executive officer
Role: President, Composites

Exact text from the filing

In connection with the Transaction, Marcio A. Sandri, will remain in the role as the Company’s President, Composites, but will no longer serve as an executive officer of the Company, effective as of February 13, 2025.

View on SEC.gov

Restructurings & Charges SEC 8-K Item 2.05/2.06 confidence 0.4

Owens Corning announced a impairment affecting global glass reinforcements business (Composites business segment).

Type: impairment
Affected area: global glass reinforcements business (Composites business segment)

Exact text from the filing

the Company expects to recognize an impairment charge. At this time, the Company is unable in good faith to estimate the full amount or range of estimates of impairment charges associated with the Transaction.

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1 restructurings & charges filed in the last 30 days. Browse all restructurings & charges →

Owens Corning filing history →

Source: SEC EDGAR

accession 0001370946-25-000070

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