Cleary Gottlieb is representing longtime client Owens Corning in the acquisition of the glass non-wovens and fabrics businesses of Ahlstrom. The transaction, which is subject to regulatory approvals, is anticipated to close in the first half of 2016.
Owens Corning is a leading innovator of glass fiber technology with sales of $5.3 billion in 2014 and 15,000 employees worldwide, and Ahlstrom is a Finnish high performance fiber-based materials company.