The Competition Commission of India (CCI) has cleared the proposed acquisition of the entire shareholding of IPM Inc. and OC NL Invest Cooperatief U.A. in Owens-Corning (India) Pvt. Ltd. by Triumph Composites Pvt. Ltd. and Quartz Fibre Pvt. Ltd.
The deal is part of a global transaction under a Master Share Purchase Agreement signed in February 2025, covering Owens Corning’s glass fibre reinforcement business worldwide, including its India operations. The parties are engaged in manufacturing and supplying a range of glass fibre products such as chopped strand mat, assembled rovings, direct rovings, dry use chopped strands, woven fabrics, and continuous filament mat.