Document 1gKwaQx89Q0MwexjZxdXmyqKj

Owons`Corning FIbergJas Corporation Annua] Meeting Remarks by Glen H. Hiner Chairman and Chief Executive Officer April 16,1992 OWENS/CORNING FlBERGLAS WV-02872 Annua! Mooting Remaite "On behalfofall the shareholders of the corporation, let me thank the employee shareholders here today tor all that you have done to bu2d this enterprise. Owens* Corning is really a terrific companyand those of us who join the company today, or invest in the company today, need to thank you for making this such a great company -- tor the heritage you have-developed and the foundation you have estab&sbed. The company has come a long, long way in recent years and is now poised forsignificant growth. "Here are some ofthe highlights of 199Is 5% increased our market glares in ourmajor North American and European markets -- a significant threat to our competitors. Productivity improved m a! ofouroperations, which was shown in the significant first Quarter operating margin improvement in 1992. We reduced our debt by $130 mMon. We restruc tured mr debt, retiring $420 million ofhigh-interest debt and replacing h with lower-interest debt. We put the asbestos issue behind us for the rest of this decade and focused eur energies going forward on productive things like building the core of our enterprise -- notshedding tears about the past. And wc dealt with the legal requirements ofaccruing for post-retirement benefits for our employees.