In 1935, realizing the potential growth of the glass fiber insulation market, Corning Glass, which had briefly experimented with glass fiber manufacturing in the 1920's, approached Owens-Illinois with a proposal to join forces in the production of glass fiber.
Recognizing the benefits of Corning's knowledge of glass formulations, Owens-Illinois agreed to the proposal, and the two companies decided to share the costs of glass fiber developments.
In 1938, experimental costs prompted Corning Glass and Owens-Illinois to consider spinning off the joint venture as a separate company.
On Nov. 1, 1938, Owens-Corning Fiberglas® Corporation was announced and by the end of 1938, the company reported sales of $2,555,000, and 632 employees. Owens Corning and the Duplate Safety Glass Company established Fiberglas® Canada in 1939, launching Owens-Corning into the international market, with each founding company owning a 50 percent share. Owens Corning would later own the entire Fiberglas® Canada Operation.
Owens Corning became publicly traded on the New York Stock Exchange in 1952, with shares being distributed equally among Owens-Illinois, Corning Glass and public ownership. Over the succeeding years, both Owens-Illinois and Corning Glass would sell their shares, which would become largely owned by institutional investors.
In 1953, Owens Corning and General Motors announced the first production automobile to be made entirely of Fiberglas® reinforced plastic, the Chevrolet Corvette.
In October of 1960, the current Granville Science and technology research and development operations for the company was completed.
On July 21, 1969, personnel began the move to the Fiberglas® Tower in Toledo, Ohio.
On Dec. 31, 1971, Owens Corning announced sales surpassing the half billion mark for the first time. Sales passed the $2 billion mark at the end of the 1970's.
The Pink Panther, a much-loved cartoon character, entered the scene as Owens Corning's corporate mascot on Aug. 15, 1980, to promote the sales of PINK Fiberglas® insulation.
On May 12, 1987, Owens Corning made legal history as the first company to trademark a color, in this case, PINK.
At the end of the 1980's, Owens Corning reported sales of $3 billion, and employed 18,300 people.
Owens Corning reinvented Fiberglas® Insulation in 1994, with MIRAFLEX&strade;EFiber, the first new form of glass fiber in nearly 60 years.
On Jan. 2, 1996, Owens-Corning Fiberglas® Corporation changed its name to Owens Corning. The name change completed a transition begun in 1992 with the new corporate logo to reflect that Owens Corning is constantly growing in scope and technology.
Since that time, Owens Corning has led every major technological advance in glass fiber technology. Nearly countless subsequent innovations have seen Owens Corning grow to a position of world leadership in glass fiberization and dramatically change the way people live, work and play.