Owens Corning - OC STOCK NEWS

Clarise Ashworth, an environmental lawyer at Owens Corning since 2021, discusses her role in overseeing product stewardship and compliance efforts in the company's 2023 Sustainability Report. She emphasizes the importance of human rights in their operations, aligning with Owens Corning's 2030 sustainability goals. The Compliance team ensures adherence to human rights policies and the Business Code of Conduct. Collaboration with Human Resources, Sourcing, and business partners is important to uphold dignity and respect for everyone involved. Ashworth highlights the company's core value of improving lives and the unique collective conscience that sets Owens Corning apart.

Owens Corning's 2023 Sustainability Report spotlights Gisela Martinez, a Senior Administrative Associate known for her extensive volunteer work. Since joining the company as an intern in 2017, Gisela has led numerous community engagement initiatives, particularly in response to crises like the Mexico City earthquake. Her efforts have not only provided immediate relief but have also fostered long-term community support.

The report highlights the 'Volunteer of the Year' award given to Gisela in 2023, recognizing her contributions to vulnerable children and disaster victims. Owning to her leadership, Owens Corning has seen increased employee participation in volunteer activities, especially through diverse programs that cater to different interests.

Gisela emphasizes the integration of community engagement with sustainability, asserting that true sustainability involves benefiting local communities. Owens Corning's initiatives include donating insulation materials and organizing various volunteer activities, which have been instrumental in enhancing employee involvement and fulfillment.

Owens Corning (NYSE: OC) has announced an early settlement date of May 22, 2024, for its exchange offer and consent solicitation with Masonite International This decision aligns with the terms set forth in the offering memorandum and consent solicitation statement dated May 1, 2024. The company will accept validly tendered Masonite Notes by the early participation deadline of May 14, 2024. Holders can still tender their notes until May 30, 2024. Morgan Stanley & Co. and Wells Fargo Securities, are managing the process. Eligible Holders must be qualified institutional buyers or non-U.S. qualified offerees.

In a recent press release dated May 16, 2024, Owens Corning highlighted its commitment to sustainability through an Employee Q&A with Senior Scientist Ozma Lane. The focus was on the company's efforts to meet its 2030 sustainability goals, particularly in the realm of asphalt production. Lane emphasized the importance of collaboration within the company, which aids in quicker innovation and application of new ideas. She also noted her personal journey and satisfaction in working towards reducing greenhouse gas emissions, reflecting Owens Corning's cooperative culture and dedication to environmental responsibility.

Owens Corning has completed the acquisition of Masonite International for $3.9 billion, or $133.00 per share. This acquisition is expected to bolster Owens Corning's position in the building and construction materials sector by adding a line of interior and exterior doors and door systems. The integration promises to leverage Owens Corning's operational and innovation capabilities, generating approximately $125 million in cost synergies. The company's annual revenue is projected to rise to $12.5 billion with an adjusted EBITDA of $2.9 billion. Chris Ball has been appointed President of the newly formed Doors business. Masonite's shares will be delisted from the NYSE.

Owens Corning (NYSE: OC) and Masonite International announced the successful early participation results for their exchange offer and consent solicitation concerning Masonite’s 3.50% Senior Notes due 2030. As of May 14, 2024, 99.51% of these notes had been tendered.

The terms were amended to increase the consideration for holders tendering after the early deadline. The amended terms include a $2.50 cash payment and $1,000 in new OC notes for each $1,000 principal amount of existing notes tendered. Eligible holders who tender after the early deadline will receive $970 in new OC notes plus an early tender premium but no consent payment.

The amendments to the indenture governing the notes will be effective once the exchange and acquisition are complete. All terms and conditions remain subject to the consummation of Owens Corning's acquisition of Masonite.

Owens Corning (NYSE: OC) and Masonite International (NYSE: DOOR) have announced the extension of the expiration time and early participation deadline for their Tender Offer and Consent Solicitation. The new deadlines are now 5:00 p.m., New York City time, on May 14, 2024. All other terms remain unchanged. This extension follows the receipt of requisite consents to amend the indenture governing Masonite's notes, eliminating certain covenants and provisions. The Tender Offer and Consent Solicitation are part of Owens Corning's acquisition of Masonite, with both companies retaining the right to amend terms. As of May 13, 2024, $471.27 million of Masonite Notes have been tendered, representing 94.25% of the total principal amount. The amendments will become effective upon the consummation of the acquisition and satisfaction of other conditions.

The press release discusses the importance of inclusivity and authenticity at Owens Corning, highlighting Brenda Karras' contributions to building an inclusive workforce. Brenda's involvement in affinity groups like HOLA has helped foster connections, promote diversity, and support talent attraction and retention. The PR emphasizes the benefits of an inclusive workplace and showcases Owens Corning's commitment to social sustainability through inclusion and diversity.

Owens Corning and Masonite International have announced an exchange offer and consent solicitation related to Owens Corning's planned acquisition of Masonite. The exchange offer involves exchanging 3.50% Senior Notes due 2030 issued by Masonite for new notes to be issued by Owens Corning, along with soliciting consents for proposed amendments to the indenture governing the existing notes. The offer includes various payments and considerations, subject to specific conditions and deadlines.