Owens Corning and The Home Depot Expand Relationship with New Strategic Insulation Partnership
Multi-year agreement means that Owens Corning PINK Fiberglas(TM) insulation will be offered in more than 2,200 The Home Depot stores in North America
TOLEDO, Ohio, Oct. 5 /PRNewswire-FirstCall/ -- Owens Corning (NYSE: OC), the most trusted brand in insulation, today announced it has expanded its relationship with The Home Depot®, the world's largest home improvement retailer, through a new strategic insulation partnership. Starting in January 2010, Owens Corning PINK Fiberglas(TM) insulation will be sold in more than 2,200 of The Home Depot's stores across North America.
"Owens Corning is the clear leader in this market, and it is a brand that people know and trust - when you think of insulation, PINK comes to mind first. This partnership ensures that consumers and professional contractors will continue to find everything they need to do the job right at The Home Depot," said Craig Menear, executive vice president, Merchandising, The Home Depot. "Owens Corning delivers the quality products our customers expect backed by a true leader in energy efficiency and sustainability."
Unaided awareness for Owens Corning's residential insulation among homeowners has remained 10 times higher than any other insulation. Owens Corning's insulation has also been consistently rated #1 by builders year over year in Builder Magazine Brand Use Study.
"This strategic partnership allows us to bring together the combined brand power of Owens Corning and The Home Depot," said Tom Quigley, vice president and general manager of Owens Corning's Insulation Business. "We are excited to expand our long-standing relationship with The Home Depot to provide Owens Corning insulation products that help make buildings more energy efficient. Buildings consume 40 percent of the energy used in the United States - that's more than industry and more than transportation. Insulation helps reduce energy use, greenhouse gases, and energy bills at a time when people are looking to save money and do the right thing for the environment."
In line with The Home Depot's Eco Options program, Owens Corning insulation products help increase the energy efficiency of buildings, contain the highest level of certified recycled content for fiberglass insulation in North America, and are GREENGUARD Certified to meet the strictest standards for indoor air quality.
About Owens Corning
Owens Corning is a leading global producer of residential and commercial building materials, glass fiber reinforcements and engineered materials for composite systems. A Fortune 500 company for 55 consecutive years, Owens Corning is committed to driving sustainability through delivering solutions, transforming markets and enhancing lives. Founded in 1938, Owens Corning is a market-leading innovator of glass-fiber technology with sales of $6 billion in 2008 and about 16,500 employees in 30 countries. Additional information is available at www.owenscorning.com.
About The Home Depot
The Home Depot is the world's largest home improvement specialty retailer, with 2,242 retail stores in all 50 states, the District of Columbia, Puerto Rico, U.S. Virgin Islands, Guam, 10 Canadian provinces, Mexico and China. In fiscal 2008, The Home Depot had sales of $71.3 billion and earnings from continuing operations of $2.3 billion. The Company employs more than 300,000 associates. The Home Depot's stock is traded on the New York Stock Exchange (NYSE: HD) and is included in the Dow Jones industrial average and Standard & Poor's 500 index.
