04:59 PM EDT, 04/15/2026 (MT Newswires) -- Owens Corning ( OC ) said late Wednesday it has amended its agreement to sell its glass reinforcements business to Praana Group, increasing upfront cash proceeds and accelerating cash realization.

The revised deal removes seller notes and lowers the total enterprise value to $645 million from $755 million, reflecting changing market conditions while maintaining a consistent valuation multiple, the company said.

Owens Corning ( OC ) expects the transaction to close in Q2, subject to regulatory approvals, and said proceeds will be used to fund organic growth initiatives and return cash to shareholders.