Toledo, Ohio — Owens Corning Co. will buy Natural Polymers LLC, a Cortland, Ill-based polyurethane systems house specializing in spray foam formulations.
Owens Corning expands into spray foam
No price was disclosed for the deal, which is expected to close in the third quarter of this year. According to Owens Corning, Natural Polymers expects sales of $100 million in 2022. The business has demonstrated a strong track record of above-market growth, it said, and is expected to continue to achieve double-digit growth over the next few years.
Natural Polymers’ formulations are low VOC products, and a number of them have been Greenguard Gold Certified by Underwriters Laboratories.
Owens Corning produces roofing and insulation products based around glass fiber. CEO Tod Fister said the purchase would allow his company to offer its customers a more diversified insulation product portfolio.
“Over the last several years, we’ve seen many advancements in the overall spray foam industry, from standardized installer training to product enhancements that make the material a much more attractive solution,” Fister said in a news release. “Natural Polymers’ focus on product development provides Owens Corning with a foundation upon which we can use our material science knowledge to drive innovation and differentiate the business.”
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