TOLEDO, Ohio (AP) — Building materials maker Owens Corning said Monday it completed the sale of its Fabwel unit in two transactions for a combined $60 million.
The company sold Fabwel's composite panel business to Crane Composites for $38 million. The deal includes a manufacturing plant in Goshen, Ind. and a business development center in Elkhart, Ind.
Separately, Owens Corning sold Fabwel's metals fabrication, lamination and RV door business to Euramax International Inc. for $22 million. The deal includes facilities in Nappanee, Ind. and Bourbon, Ind.
The Fabwel unit, which makes components and sidewalls for recreational vehicles and cargo trailers, employed about 350 people and had sales of approximately $179 million last year.