The transaction still needs regulatory approval, but it's expected to close in the first half of the year. Brian Chambers, president of Owens Corning's Roofing and Asphalt Business, said the acquisition will "significantly expand" the company's roofing segment. Chambers said InterWrap is a pioneer in the development of synthetic underlayment and packaging--the same strategy Owens Corning is pursuing. InterWrap operates plants in the U.S., Canada, China, and India. Among its products are Titanium and RhinoRoof brands, and lumber and metal packaging products such as Duramet and WeatherPro. Owens Corning had sales of $5.4 billion in 2015 and has 15,000 employees.
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