Owens-Corning Reports Record Second Quarter

US Owens Corning has reported second quarter sales and earnings. Net income for the quarter increased to US$69m, up 10% Net sales were up 9% for the quarter to US$856m. For the six months ended June 30, 1996, net income, excluding special charges, increased 14% to US$108m. Including the charge, the net loss was US$434m for the first six months of 1996. Net sales increased to US$1,805bn for the first six months, compared to US$1,721bn for the same period in 1995. According to analysts, the world glass fibre industry for composites produced 2.3m tonnes in 1995, valued at US$4.3bn.