Moody's says Owens Corning's acquisition of Masonite is credit positive, despite incremental debt
Moody's Investors Service (Moody's) commented that Owens Corning's (OC) announced acquisition of Masonite International Corporation (Masonite) for about $4.1 billion is credit positive, despite the incremental debt. With the acquisition of Masonite, OC will become the largest vertically integrated i...Owens Corning is engaged in manufacturing and delivering a range of insulation, roofing, and fiberglass composite materials. The company's Composites segment includes vertically integrated downstream activities. The company manufactures, fabricates and sells glass reinforcements in the form of fiber. The company's Insulation segment includes a portfolio of high, mid and low-temperature products with a geographic mix of United States, Canada, Europe, Asia-Pacific and Latin America, a market mix of residential, commercial, industrial and other markets, and a channel mix of retail, contractor and distribution. The company's products in the Roofing segment are laminate and strip asphalt roofing shingles.
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