History of Owens Corning in Timeline

Owens Corning is a global leader in insulation, roofing, and fiberglass composites. Founded in 1935 as a joint venture between Corning Glass Works and Owens-Illinois, it has grown to be the world's largest fiberglass composite manufacturer. A Fortune 500 company since 1955, Owens Corning employs roughly 19,000 people worldwide and uses the Pink Panther as a recognizable mascot in its advertising.

1935: Company Formation

In 1935, Owens Corning was formed as a partnership between Corning Glass Works and Owens-Illinois.

1935: Formation of Owens-Corning Fiberglas Company

In 1935, the Owens-Corning Fiberglas Company was created through the merger of Owens-Illinois and Corning Glass Works.

1938: Company Separation and Headquarters Establishment

In 1938, Owens-Corning Fiberglas Company became a separate entity and established its headquarters in Toledo, Ohio. The company's sales reached $2.6 million in 1938.

1939: U.S. Navy Standard Insulation

In 1939, the U.S. Navy Bureau of Ships made Owens-Corning insulation standard in new warship construction, using insulation called Navy Board.

1944: Fiber Glass-Reinforced Plastic Boat Hull Prototype

In 1944, Owens-Corning produced a prototype boat hull constructed of fiber glass-reinforced plastic.

1945: First Fiberglas-Reinforced Plastic Car Body

In 1945, Owens Corning worked with an automaker to produce the first fiberglas-reinforced plastic car body.

1952: Initial Public Offering

In 1952, Owens Corning had its initial public offering on the New York Stock Exchange.

1953: Chevrolet Corvette with Fiberglas Body

In 1953, General Motors used a fiberglas-reinforced plastic car body in the Chevrolet Corvette, utilizing Owens Corning's technology.

1954: Centrifugally-Spun Fiberglas Wool Process

In 1954, Owens Corning invented a process to make centrifugally-spun fiberglas wool, which became the standard process for producing fiberglas insulation.

1955: Fortune 500 Listing

In 1955, Owens Corning was included in the first Fortune 500 company list and has been a part of the list every year since.

1955: Introduction of Perma-Ply Roofing Material

In 1955, Owens-Corning introduced its Perma-Ply roofing material for built-up room insulation covering.

1955: Research Facility and Fortune 500 Debut

In 1955, Owens-Corning purchased land near Granville, Ohio for a research and testing facility. The company also made its debut on the Fortune 500 list in 1955.

1956: Creation of All Fiber (AF) Fiberglas Wool

In 1956, Owens Corning created its first all fiber (AF) fiberglas wool and dyed it pink to distinguish the product.

1965: Formation of European Division

In 1965, Owens-Corning Fiberglas Europe was established.

1966: Partnership with Armstrong Rubber Co.

In 1966, Owens-Corning partnered with Armstrong Rubber Co. to produce fiberglas-reinforced automobile tires.

January 27, 1967: Development of Beta Cloth

Following the Apollo 1 fire on January 27, 1967, NASA collaborated with Owens-Corning and DuPont to develop beta cloth, a fireproof material used in the Apollo/Skylab A7L space suit.

1971: Annual Revenue Milestone

By 1971, Owens-Corning's annual revenue exceeded $500 million.

1974: Temporary Plant for Trans-Alaska Pipeline

In 1974, Owens-Corning opened a temporary plant to produce insulation for the Trans-Alaska Pipeline System.

1976: Sales surpass $1 billion

In 1976, Owens-Corning sales surpassed $1 billion.

1977: Acquisition of Frye Roofing

In 1977, Owens-Corning acquired Frye Roofing and began production of fiberglas mat to replace traditional paper mat in roofing.

1978: Class Action Lawsuit Filed

In 1978, a class action lawsuit was filed against Owens-Corning and 14 other manufacturers alleging knowledge of asbestos-containing products.

1979: Sales surpass $2 billion

By 1979, Owens-Corning sales were over $2 billion.

1979: Licensing of the Pink Panther

In 1979, Owens Corning licensed the United Artists cartoon character the Pink Panther as the product's mascot.

1980: Pink Panther Brand Mascot Agreement

In 1980, Owens Corning entered into a long-standing agreement to use the Pink Panther as its brand mascot to bring their trademark color pink to life.

1985: Acquisition of Aerospace and Strategic Metals Group

In 1985, Owens-Corning acquired Aerospace and Strategic Metals Group in Newport Beach, California from Armco Inc for $415 million.

1986: Trademarked PINK

In 1986, the color PINK was trademarked by Owens-Corning, making it the first company to trademark a color.

1987: Trademarking of Pink Color

In 1987, Owens Corning trademarked the color pink, the first time a color was used for that purpose.

1990: Asbestos Lawsuits

By 1990, Owens-Corning was the defendant in about 84,500 asbestos-related lawsuits.

1993: Asia/Pacific Division Opening

In 1993, Owens Corning opened its Asia/Pacific division.

May 1994: Acquisition of UC Industries

In May 1994, Owens-Corning acquired UC Industries, producer of Foamular polystyrene insulation, as a wholly-owned subsidiary.

1996: Name Change

In 1996, the company changed its name to Owens Corning.

May 1997: Acquisition of Fibreboard Corporation

In May 1997, Owens Corning acquired Fibreboard Corporation, a vinyl siding and other industrial material manufacturer.

1999: Asbestos Products Verdict

In 1999, a jury in federal district court in Florida awarded $1.8 million compensatory damages and $31 million punitive damages against Owens Corning for asbestos products.

2000: Asbestos Lawsuit Settlements

By 2000, Owens Corning had settled with 440,000 people who claimed Owens Corning's products caused them to develop asbestos-related illnesses.

2000: Bankruptcy Filing

In 2000, Owens Corning filed for Chapter 11 bankruptcy.

2002: NYSE Share Removal

In 2002, Owens Corning removed its shares from the New York Stock Exchange.

2006: NYSE Relisting

In 2006, Owens Corning was relisted on the New York Stock Exchange under the ticker "OC."

2007: Joint Venture with Saint-Gobain

In 2007, Owens Corning announced a joint venture with Saint-Gobain named OCV Reinforcements.

2009: Roofing and Asphalt Shingle Recycling Program Launch

In 2009, Owens Corning Roofing and Asphalt Shingle Recycling Program was launched to keep shingles out of landfills.

2011: Partnership with DuPont

In 2011, Owens Corning partnered with DuPont to create a steel and foam energy reduction (SAFER) barrier around auto racetracks.

2013: Solar Power System Installation

In 2013, Constellation Energy built a 2.7-megawatt solar power system at an Owens Corning insulation plant in Delmar, New York, capable of producing 3.3 million kilowatt hours of electrical energy annually.

2014: Green Cross for Safety Medal

In 2014, Owens Corning was awarded the Green Cross for Safety medal by the National Safety Council.

July 2015: Manufacturing Center Announcement

In July 2015, Owens Corning announced it would be moving a manufacturing center for mineral wool insulation into an empty plant west of Joplin, Missouri.

2015: Corporate Equality Index and Dow Jones Sustainability Recognition

In 2015, Owens Corning received a perfect score on the Corporate Equality Index and was recognized on the Dow Jones Sustainability World Index for the sixth consecutive year.