"We are committed to extending this heritage, and look forward to accelerating new application growth with this promising market solution from CPS."
Owens Corning (NYSE: OC) and Composite Panel Systems, LLC, today announced the formation of a new supply alliance to support production of CPS’ innovative EPITOME™ composite-based foundation wall system solution.
In support of the alliance, Owens Corning has signed an exclusive supply agreement with CPS to supply glass reinforcements for its EPITOME™ composite basement wall solutions. The supplier alliance is the second such agreement for CPS, which established an exclusive supply agreement with Ashland, Inc. (NYSE: ASH) in 2012 for the supply of resins used in the manufacture of its EPITOME™ composite wall solutions.
“Owens Corning has a proud history of pioneering innovation and transforming markets,” said Kim Howard, Vice President and General Manager, Owens Corning Glass Reinforcements – Americas. “We are committed to extending this heritage, and look forward to accelerating new application growth with this promising market solution from CPS.”
CPS founder, president, and CEO Glenn Schiffmann, added, “We are extremely pleased to announce this new supply alliance with Owens Corning. In combination with our existing supply agreement with Ashland, this alliance enables CPS to work with two of the most respected names in the composites industry to leverage their substantial product and building technology experience for the benefit of builders and homeowners.
“The alliances with these global powerhouses also position us to capitalize on the growth opportunities we anticipate from the conversion to engineered, high-performance composite materials as a compelling alternative to traditional concrete basement foundation wall structures,” he added.
EPITOME™ composite foundation walls provide a wide range of game-changing benefits for builders and homeowners, including:
Enhanced builder productivity through ease of installation;
High-performance structural attributes inherent in the highly insulated panels that are fire, mold, and moisture resistant;
Creation of clean and comfortable living spaces; and
Incorporation of sustainable building products.
About Composite Panel Systems, LLC
Based in Eagle River, Wisconsin, Composite Panel Systems, LLC, engineers, manufactures, and installs high-performance composite basement foundation wall systems for residential applications. EPITOME™ composite-based wall systems provide a clean, engineered solution for new construction or replacement of vertically installed, poured concrete foundation walls. EPITOME™ composite foundation walls combine strength, integrated stud cavities for mechanicals, energy code compliant insulation values, top plate and a vapor barrier in a single step. For more information, please visit: www.compositepanelsystems.com.
About Owens Corning
Owens Corning (NYSE: OC) develops, manufactures and markets insulation, roofing, and fiberglass composites. Global in scope and human in scale, the company’s market-leading businesses use their deep expertise in materials, manufacturing and building science to develop products and systems that save energy and improve comfort in commercial and residential buildings. Through its glass reinforcements business, the company makes thousands of products lighter, stronger and more durable. Ultimately, Owens Corning people and products make the world a better place. Based in Toledo, Ohio, Owens Corning posted 2015 sales of $5.4 billion and employs about 16,000 people in 25 countries. It has been a Fortune 500® company for 62 consecutive years. For more information, please visit: www.owenscorning.com.
About Ashland Ashland, Inc. (NYSE: ASH) is a global leader in providing specialty chemical solutions to customers in a wide range of consumer and industrial markets, including adhesives, architectural coatings, automotive, construction, energy, food and beverage, personal care and pharmaceutical. Through its three business units – Ashland Specialty Ingredients, Ashland Performance Materials and Valvoline – Ashland uses good chemistry to make great things happen for customers in more than 100 countries. For more information, please visit: www.ashland.com.