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BATTICE, BELGIUM-Building-materials manufacturer Owens Corning has sold two factories, one here and one in Birkeland, Norway, to Beverly Hills Platinum Equity for $242 million. Toledo, OH-based Owens Corning, which realized proceeds of $197 million from the transaction, sold the buildings in order to address European regulatory concerns after it acquired the France-based Saint-Gobain’s reinforcements and composite fabrics division last year.

Neither Owens Corning nor Platinum revealed the size of either factory, and representatives of both firms did not return phone calls regarding the deal. The plants make materials “used to strengthen and lighten components and parts in the automotive, wind energy, electronics and consumer goods industries, among others,” according to a Platinum statement.

Platinum will take on the facilities, said Brian Wall, an executive at the mergers and acquisitions firm, in a statement. “We have substantial manufacturing experience, and we’ve been able to identify numerous opportunities in the dynamic composites market,” Wall said. “We are very confident the new company can thrive and grow as a leader in this space.

In September, Owens Corning sold three facilities in Indiana for $60 million. The previous month it sold its Siding Solutions business, which included 153 distribution centers in 38 states, for $371 million to Saint-Gorbain.

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