Owens Corning recently announced that it was changing its legal entity structure. What does that mean?
Currently, Owens Corning is comprised of more than 100 legal entities. Many of these entities were set up for historical tax and legal reasons. The company’s assets and businesses are spread throughout these entities in ways that no longer provide Owens Corning with the best legal protections, tax benefits or business efficiencies. Under the new legal entity structure, each of our six main business units will reside in a separate legal entity. In addition, several other legal entities will be established to handle specific operational functions, such as sales, distribution and science and technology. Employees who work in these areas will continue to operate as they do today, working closely with our business units to provide our customers with superior products and service. There also will be a limited number of similar changes made in Canada.
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