Global Fastener News

1986 FIN – Owens-Corning Fiberglass Seeks to Leave Fastener Industry

April 29
00:00 2015

March 12, 1986 FIN – Owens-Corning Fiberlass Corp, Toledo, Ohio, which recently got into the fastener business with the purchase last year of Armco Inc.’s Aerospace & Strategic Materials Group, plans to get out of the fastener business soon with the sale of part of that acquired group.

Owens-Corning purchased the Armco group for $145 million last September as part of the company’s increasing involvement in “high performance materials and applications.”
Up for sale are: Olympic Fastening Systems Inc., Downey, California, a producer of blind fasteners to industrial and aerospace firms; Tri-Clover Valve Division Tof Ladish Corp., a Kenosha, Wisconsin-based valve and pump manufacturer; Applied Composites Division, St. Charles, Illinois; and CHR Industries Inc., New Haven, Connecticut, a producer of pressure sensitive tapes. Also to be sold is an 80% share of Oregon Metallurgical Corp., Albany, Oregon, a titanium producer.
Owens will hold onto the Hitco Fabricat Composites and Hitco Materials divisions and the remainder of Ladish Corp., which produces forgings for aerospace, defense and other industrial applications. ©1986/2015 Fastener Industry News.
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