Praana Group to acquire the glass reinforcements business of Owens Corning for $755m.

Praana Group, an India-based holding group that operates a diverse portfolio of companies primarily serving the industrial sector, agreed to acquire the glass reinforcements business of Owens Corning, a residential and commercial building products provider, for $755m. This sale is a part of Owens Corning’s strategic plan to reshape the company to focus on residential and commercial building products in North America and Europe.