Owens Corning Acquires Spray Foam Manufacturer Natural Polymers

Owens Corning Inc OC has agreed to acquire Natural Polymers, LLC, a manufacturer of spray polyurethane foam insulation for building and construction applications, based in Cortland, Illinois. Deal terms were not disclosed.
Natural Polymers anticipates sales of $100 million in FY22. The company expects to maintain double-digit growth over the next several years.
"This acquisition advances Owens Corning's strategy to strengthen our core building and construction products and expand our addressable markets into higher-growth segments," commented Todd Fister, president of Owens Corning's Insulation business.
Benjamin Brown, President, and CEO of Natural Polymers, will join Owens Corning in an innovation leadership role.
Owens Corning held cash and equivalents of $755 million as of March 31, 2022.
Price Action: OC shares are trading lower by 0.05% at $75.89 on the last check Tuesday.