Housing rebound increases demand for roofing materials

04/25/2013 | CNBC · Blade (Toledo, Ohio), The

The recovery in the housing market is helping bolster the sales of building materials, including those used for roofing, according to Michael Thaman, CEO of Owens Corning. "We're seeing insulation, despite the fact that it's losing money, move back into profitability. And we think composites will begin to turn the corner in the second quarter and improve in the second half," Thaman said. Owens Corning reported that its first-quarter adjusted earnings reached $35 million, up from $11 million in the same period a year earlier. Sales of roofing materials were up $19 million.

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CNBC · Blade (Toledo, Ohio), The

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