Sorainen is advising Owens Corning on the acquisition of Paroc Group, a leading producer of mineral wool insulation for building and technical applications in Europe. The total disclosed value of the acquisition of Paroc Group facilities in Finland, Lithuania, Poland, Russia and Sweden is EUR 900 million.
NYSE-listed Owens Corning develops, manufactures and markets insulation, roofing and fibreglass composites. Based in Toledo, Ohio, the company posted 2016 sales of USD 5.7 billion and employs about 17,000 people in 33 countries. Owens Corning has been a Fortune 500 company for 63 consecutive years.
In assisting Owens Corning on matters related to acquisition of Paroc Group Baltic operations, Sorainen is advising the client in cooperation with international law firm Jones Day. The pan-Baltic Sorainen team in this transaction, led by partner Laimonas Skibarka and counsel Mantas Petkevièius, includes senior associates Juulika Aavik and Karina Andriukaitienë with associates Artur Drapeko, Lukas Vaišvila, Aurelija Daubaraitë, Ignas Motiejûnas, Toms Vilnis and others.