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Owens Corning To Temporarily Curtail Operations At Facilities Amid COVID-19

Providing a business update on COVID-19 response, Owens Corning (OC) announced Monday it is proactively balancing production across its network and will temporarily curtail operations at facilities, due to the slowing near-term demand environment in several global markets.

The company will continue to evaluate the demand environment and respond accordingly to the markets it serves.

Given the uncertain market environment, Owens Corning is focused on reducing or postponing non-critical expenses including capital investments. The company's only near-term debt maturity is the remaining $150 million from its term loan due in March 2021.

The company said it will provide a further update on its performance and actions during its first-quarter 2020 earnings call on April 29, 2020.

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