The board of directors of Owens Corning declared a quarterly dividend of 7.5 cents/share of common stock. The dividend was payable 15 Jan 2000 to shareholders of record as of the close of business on 31 Dec 1999. Meanwhile, the US$4.5bn glass composites & building material major, Owens Corning Corp (US), is picking up 25% equity in the Pune-based Siro Plast, a Mahindra & Mahindra group company in India. According to a report, the two companies recently joined hands by signing a memorandum of understanding, and the US company is further strengthening its business relations with the Mahindra group. The two have jointly floated Owens Corning (India) Ltd. Meanwhile, Siro Plast has informed the Bombay Stock Exchange that it has entered into a non-binding memorandum of understanding with a foreign company, which intends to explore the possiblity of a collaboration.
