Press Release: Mergers: Commission approves Owens Corning’s proposed acquisition of Saint-Gobain’s Vetrotex business, subject to conditions

The European Commission has cleared under the EU Merger Regulation the proposed acquisition of the glass fibre reinforcements and composite fabrics businesses ("Vetrotex") of the French Compagnie de Saint-Gobain (Saint Gobain) by Owens Corning of the US. The Commission's decision is conditional upon the divestment of two facilities producing certain types of glass fibre reinforcements for which it had identified competition concerns. In light of this commitment, the Commission has concluded that the proposed transaction would not significantly impede effective competition in the European Economic Area (EEA) or any substantial part of it.