NORSE WIN 4TH STRAIGHT SECTIONAL TITLE On page 21
of wabash county inc. June 5, 2013
www.thepaperofwabash.com
Proudly Serving Wabash County Since 1977
Vol. 36, No. 12
PO Box 603, Wabash, IN 46992 (260) 563-8326
Owens Corning announces acquisition of Thermafiber Inc. Transaction Expands Company’s Commercial and Industrial Insulation Product Portfolio
TOLEDO - Owens Corning announced June 3 that it has completed the acquisition of Thermafiber Inc., a leading manufacturer of mineral wool commercial and industrial insulation products. The acquisition, which includes a 145,000square-foot manufacturing location in Wabash, provides Owens Corning with a broad insulation portfolio now encompassing fiberglass, foam, and mineral wool insulation products. “The acquisition of Thermafiber is an outstanding addition for Owens Corning and our customers,” said Joe Ochoa, vice president and general manager, Engineered Insulation Systems. “Mineral wool insulation adds to our product portfolio and helps us to provide access to high-temperature commercial building applications. “Over the past 75 years, Owens Corning has earned a strong reputation for building science and sustainability, and we look forward to applying this expertise to benefit customers who pursue mineral wool insulation applications,” he added. Thermafiber’s insulation products support fire block, fire blankets, and curtain wall applications spanning the commercial, residential, and industrial markets. Thermafiber insulation contains up to 90 percent recycled content and is non-combustible, inorganic and mold-resistant. Thermafiber products provide fire protection, sound control and energy conservation, and are installed in six of the 12 tallest buildings in the world, including One World Trade Center in New York City and the Burj Khalifa tower in Dubai. Thermafiber, based in Wabash, and founded in 1934, is part of Altus’ first fund, Altus Capital Partners, L.P., which launched in 2004. This is the third sale of an Altus portfolio company in the past two years. Details of the transaction were not disclosed. Altus acquired Thermafiber in 2007, along with members of senior management and other investors. During its ownership, Altus supported management in evaluating and executing various growth initiatives. In a separate press release, Greg Greenberg, Co-Founder and Senior Partner of Altus Capital Partners, said, “Thermafiber’s exceptional management team and employees, led by Steve Edris in conjunction with Altus’ support, focused on overall margin improvements, gains in market share and successfully developing and bringing new product offerings to the market. As a result, Steve and his team were effective in strengthening Thermafiber’s leadership position in the industry.” Thermafiber President and CEO Steve Edris said, “We thank Greg and the Altus team for the time we spent together on this investment and we look forward to working with Owens Corning and applying their expertise to benefit customers who pursue mineral wool insulation applications.”
OWENS CORNING announced June 3 it had acquired Thermafiber Inc., including the 145,000 square foot manufacturing location headquartered in Wabash. Thermafiber was previously owned by Altus Capital Partners since 2007. (photo by Mike Rees)
Dr. Ben Carson to speak at Wabash County Republican fundraiser in October By Ashley Flynn features@thepaperofwabash.com Benjamin S. Carson, Sr., M.D., has recently been hailed a hero among conservatives after he ditched the so-called political correctness and expressed his opinions opposing high taxes and ObamaCare in his keynote speech at the National Prayer Breakfast Feb. 7. The next day, Dr. Carson’s name filled the headlines including a Wall Street Journal op-ed titled “Ben Carson for President.” Dr. Carson went from politically unknown to potential presidential candidate within a matter of days, and this October he will stop in Wabash to speak at the Wabash County Republican’s annual fundraiser. Before his famous speech, Dr. Carson was better known for his medical achievements. Although he recently announced his retirement, Dr. Carson served as director of the division of pediatric neurosurgery at the John Hopkins Children’s Center. He was the first and only surgeon to successfully separate craniopagus (Siamese) twins joined at the back of the head in 1987. Dr. Carson holds more than 60 honorary doctorate degrees and has received hundreds of awards. In 2004, he was appointed by President George W. Bush to serve on the President’s Council on Bioethics. In June of 2008, Dr. Carson was awarded the Presidential Medal of Freedom by the President, which is the highest civilian honor one can receive. Along with all his medical achievements and awards, Dr. Carson is president and co-founder of the Carson Scholars Fund, which recognizes young people of all backgrounds for exceptional academic and humanitarian accomplishments. The fund is currently operating in all 50 states and the District of Columbia. It has awarded more than $5 million to more than 5,000 scholars. The program also establishes Carson Reading Rooms to encourage young students and their families to discover the pleasure found in books and recognize the true power of learning. Dr. Carson has written five books, and he will discuss (continued on page 5)
Dr. Benjamin S. Carson M.D. will speak at the Ford Theater, Oct. 20, at 3 p.m., for the Wabash Republican Party’s annual fundraiser. (photo provided)