Feb 14 (Reuters) - Construction equipment maker Owens

Corning ( OC ) said on Friday it has agreed to sell its glass

reinforcements business to India-based Praana Group in a deal

valued at $755 million.

The deal helps Owens Corning ( OC ) shift its focus on

residential and commercial building products in North America

and Europe.

Owens Corning's ( OC ) glass reinforcements business generated

revenue of about $1.1 billion in 2024. It makes and sells glass

fiber reinforcements for use in wind energy, infrastructure,

industrial, transportation and consumer markets.

"This transaction strengthens Owens Corning ( OC ) as a focused,

more capital-efficient building products leader in North America

and Europe," Owens Corning ( OC ) CEO Brian Chambers said.

The transaction, expected to close this year, completes

Owens Corning's ( OC ) strategic review announced in early 2024.

Mumbai-based Praana Group also manufactures chemicals, glass

fibers and composite materials, catering to industries ranging

from construction and textiles to home and personal care.