TOLEDO, OHIO (AP) -- Construction and manufacturing materials maker Owens Corning said Wednesday it will sell its glass fiber reinforcements plant in Capivari, Brazil to China's Chongqing Polycomp International Corp. Terms were not disclosed.
The sale is expected to close in the second quarter.
The company said it retains full ownership of its glass fiber reinforcements and fabrics facilities in Rio Claro, Brazil.
In December, the company sold its masonry products business to Boral Industries Ltd. for $90 million. Under that deal, Owens sold a 50 percent stake in the business unit to Boral for $45 million and will operate the business jointly with Boral until early 2014. In 2014, Owens will sell its remaining stake to Boral for $45 million.