Welcome to our dedicated page for Owens Corning news (Ticker: OC), a resource for investors and traders seeking the latest updates and insights on Owens Corning stock.
Owens Corning (NYSE: OC) is a global leader in the development, manufacturing, and marketing of insulation, roofing, and fiberglass composites. Headquartered in Toledo, Ohio, the company has been a staple in the Fortune 500® list for 61 consecutive years and employs approximately 15,000 people across 26 countries.
Owens Corning operates in three main segments: Composites, Insulation, and Roofing. The Composites segment produces glass fiber used in thousands of products, enhancing their strength, durability, and weight reduction. The Insulation segment focuses on energy-saving solutions for both commercial and residential buildings, improving overall comfort and efficiency. The Roofing segment, the largest revenue generator, includes laminate and strip asphalt roofing shingles, roofing components, synthetic packaging materials, and oxidized asphalt.
Recent achievements include continued innovation in sustainable building materials and systems that not only save energy but also enhance the comfort of living spaces. Owens Corning maintains a robust financial position, evidenced by its 2014 sales of $5.3 billion. The company is also known for its commitment to sustainability and inclusion, making significant contributions to environmental and social governance (ESG) initiatives.
Through partnerships and collaborations, Owens Corning remains at the forefront of building science, continuously developing products that make structures lighter, stronger, and more durable. The company's ongoing projects focus on expanding its market presence and improving product offerings to meet evolving consumer and industry demands.
For more information, visit www.owenscorning.com.
Cheria Liu, a Sourcing Specialist at Owens Corning since 2020, is working on sourcing renewable energy for the company's plants in the Asia Pacific region. Her efforts are part of Owens Corning's goal to achieve 100% renewable electricity in the area. The company's approach includes:
1. Implementing solar power rooftop projects in China, India, and Korea.
2. Developing different strategies for each country due to varying renewable energy sourcing capabilities.
3. Collaborating across global Energy teams and other departments to achieve sustainability goals.
4. Encouraging partners and vendors in their value chain to engage in sustainability efforts.
Owens Corning's unique position as both a supplier to the wind power industry and a consumer of renewable energy creates an interesting value chain dynamic in their sustainability efforts.
Sung Dae Kim, Plant Leader at Owens Corning's (OC) Asan, South Korea Roofing plant, discusses the importance of biodiversity protection and sustainability initiatives. With 30 years of experience, Kim has been instrumental in implementing projects to protect local biodiversity, including:
- Installing window film to prevent bird collisions
- Adjusting streetlights to avoid obstructing migrating birds
- Planning to install birdhouses and noise reduction equipment in 2024
- Working on reducing waste and achieving zero waste-to-landfill
- Installing solar panels on the plant roof in 2024
- Setting targets to reduce energy intensity
Kim emphasizes that protecting biodiversity is important for meeting current needs while preserving the planet for future generations. He views sustainability as a responsibility for both individuals and companies like Owens Corning, which is making efforts in recycling, energy reduction, and developing environmentally friendly products.
Owens Corning's 2023 Sustainability Report features an in-depth Q&A with Patrick Haller, Director of Strategy and Sustainability for the Insulation business. Haller emphasizes the dual benefits of Owens Corning's global presence and sustainability initiatives. Specifically, he discusses the advantages of learning from advanced European regulatory structures and the importance of sustainable growth. Haller highlights the internal and external motivations for sustainability, noting that economic growth must be decoupled from environmental exploitation. Operationalizing sustainability at Owens Corning involves a bottom-up approach, leveraging the enthusiasm and commitment of employees worldwide. This strategy aims to unite global efforts to address environmental challenges while driving business results.
Owens Corning (NYSE: OC) will announce its second-quarter financial results on Tuesday, August 6, 2024, before the New York Stock Exchange opens. The company will hold a conference call to discuss the results at 9 a.m. Eastern Time the same day. Interested parties can access the webcast at https://events.q4inc.com/attendee/391039233, where a replay will be available for one year. Callers should dial in 10-15 minutes prior to the call using entry code 688625. A replay of the call will be available starting one hour post-conference through August 13, 2024, using replay entry code 158425.
Owens Corning's latest sustainability report features Petra Inghelbrecht, their Senior Sustainability Leader, with over 25 years of experience in environmental management and circular economy strategies. Inghelbrecht emphasizes the importance of rethinking waste as a raw material to foster growth and resource independence. She highlights Owens Corning's technology-driven and market-focused approach, stressing the importance of collaboration across the value chain. The company is committed to implementing circular business models, where waste is recycled into product content, benefiting both Owens Corning and its customers. This integrated strategy aims to decarbonize, reduce environmental impacts, and create positive market effects.
Owens Corning (NYSE: OC) has announced a quarterly cash dividend of $0.60 per common share for the second quarter of 2024. This dividend will be payable on August 2, 2024, to shareholders who are recorded by July 15, 2024. The Board of Directors will consider future dividend declarations based on the company's earnings, financial status, cash needs, and future prospects.
On June 17, 2024, Owens Corning announced their efforts to minimize their environmental footprint in India, highlighting initiatives led by Dhananjay Tapasvi, General Manager - India. Over six years, Tapasvi has emphasized the importance of reducing the company's environmental impact across its value chain. The company is exploring solar energy to cut energy costs and optimizing transportation to minimize its carbon footprint. Owens Corning is also focusing on sourcing local raw materials to reduce transportation emissions and is committed to community sustainability programs. By integrating these efforts, the company aims to foster a more sustainable and efficient operational model in India.
Alix Sim, the EHS Leader at Owens Corning's Kearny plant, highlights the plant's sustainability efforts in a recent Q&A. The plant has undertaken significant initiatives to manage air emissions, including the voluntary installation of a regenerative thermal oxidizer ahead of regulatory requirements. These efforts are part of Owens Corning's broader goal to align local actions with global sustainability priorities. In 2023, the Kearny site held its first environmental community engagement exercise, receiving positive feedback from local organizations. Sim emphasizes the importance of teamwork and effective communication in navigating complex air emissions regulations and achieving sustainable outcomes.
Clarise Ashworth, an environmental lawyer at Owens Corning since 2021, discusses her role in overseeing product stewardship and compliance efforts in the company's 2023 Sustainability Report. She emphasizes the importance of human rights in their operations, aligning with Owens Corning's 2030 sustainability goals. The Compliance team ensures adherence to human rights policies and the Business Code of Conduct. Collaboration with Human Resources, Sourcing, and business partners is important to uphold dignity and respect for everyone involved. Ashworth highlights the company's core value of improving lives and the unique collective conscience that sets Owens Corning apart.
Owens Corning's 2023 Sustainability Report spotlights Gisela Martinez, a Senior Administrative Associate known for her extensive volunteer work. Since joining the company as an intern in 2017, Gisela has led numerous community engagement initiatives, particularly in response to crises like the Mexico City earthquake. Her efforts have not only provided immediate relief but have also fostered long-term community support.
The report highlights the 'Volunteer of the Year' award given to Gisela in 2023, recognizing her contributions to vulnerable children and disaster victims. Owning to her leadership, Owens Corning has seen increased employee participation in volunteer activities, especially through diverse programs that cater to different interests.
Gisela emphasizes the integration of community engagement with sustainability, asserting that true sustainability involves benefiting local communities. Owens Corning's initiatives include donating insulation materials and organizing various volunteer activities, which have been instrumental in enhancing employee involvement and fulfillment.
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