5 Most Successful Joint Ventures In America

Owens Corning (NYSE:OC)

Owens Corning (NYSE:OC), a leading provider of insulation, roofing and fiberglass composites, was formed as a joint venture decades ago and not only it is still in operation, but it has also been included in the Fortune 500 list since its establishment in 1955. In 1935, Corning Glass approached Owens-Illinois with the proposal to join forces in the production of glass fiber. The companies partnered and shared the costs related to the development of glass fiber. In 1938, Owens-Illinois and Corning Glass decided to spin-off the joint venture as a separate company. Owens Corning (NYSE:OC) had sales of $5.7 billion in 2016, versus $2.56 million reported back in 1938.

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SpeedKingz/Shutterstock.com