Sorainen, working alongside global lead counsel Jones Day, is advising Owens Corning on its acquisition of the Paroc Group, a European producer of mineral wool insulation for building and technical applications. The total disclosed value of the acquisition of Paroc Group facilities in Finland, Lithuania, Poland, Russia, and Sweden is EUR 900 million. Finland's Avance Attorneys advised the sellers.
NYSE-listed Owens Corning develops, manufactures, and markets insulation, roofing and fiberglass composites. According to Sorainen, the company, which is based in Toledo, Ohio, "posted 2016 sales of USD 5.7 billion and employs about 17,000 people in 33 countries."
Sorainen's pan-Baltic team assisting Owens Corning on matters related to acquisition of Paroc Group Baltic operations was led by Lithuanian Partner Laimonas Skibarka and Counsel Mantas Petkevicius and includes Senior Associates Juulika Aavik and Karina Andriukaitiene and Associates Artur Drapeko, Lukas Vaisvila, Aurelija Daubaraite, Ignas Motiejunas, Toms Vilnis, and others.