ETFOptimize | High-performance ETF-based Investment Strategies

Quantitative strategies, Wall Street-caliber research, and insightful market analysis since 1998.


ETFOptimize | HOME
Close Window

Owens Corning's Paroc's Take-Back Model

By: 3BL Media

SOURCE: Owens Corning

DESCRIPTION:

One essential component of the circular economy involves the establishment of take-back models, in which manufacturers accept responsibility for downstream waste from customers using their products. For Owens Corning, this can include waste generated during construction, subsequent fabrication, or installation, as well as protective packaging.

Owens Corning Paroc, our European mineral wool business, has a long-standing commitment to take-back models, dating back to 1996 (before the company was acquired by Owens Corning). They developed the Rewool program, a customer take-back model for their mineral wool. Leftovers from trimming stone wool insulation during installation, which would have once gone to a landfill, are now collected and recycled for future use.

Their take-back model required technological innovation throughout the process, from when and how the material is collected in bags, containers, or compressed bales, through storing, pretreatment, and the final recycling procedure. In developing this process, the team worked to ensure that it was safe, easy to work with, and efficient. For example, in one business model, stone wool cut-off is pretreated by grinding it, then it is fed directly back into new products, eliminating processes that would involve additional resources, such as remelting.

In recent years, Owens Corning Paroc’s take-back model has continued to improve, and we are expanding by entering agreements with partners for support in collection and logistics to increase efficiency and flexibility in our model. The model was expanded into Finland in 2020, where customer waste from installation is processed and recycled into blowing wool. Our recycling partner reported that about 5,000 MT (mainly stone wool and a small amount of glass wool) was recycled in 2021, of which approximately 120 metric tons were attributable to Paroc. We are working with our customers to tailor the model to suit the specific needs of the building sites, including those striving to achieve zero waste-to-landfill. In October 2021, our Swedish takeback model was expanded, enabling us to recycle offcuts from customers in Norway. Byproduct is transported via a third-party waste handling company from Norway to one of our facilities in Sweden for recycling. This is an ongoing project for Paroc, one that shows a great deal of promise for the circular economy and will serve as a learning-pilot for implementation in our other markets.

Read more

Tweet me: .@OwensCorning Paroc’s Rewool program, a customer take-back model for their mineral wool is expanding by entering agreements with partners for support in collection and logistics to increase efficiency and flexibility. Learn more: https://bit.ly/38Nadgf

KEYWORDS: NYSE: OC, owens corning, Paroc

Diagram of the Rewool take back system changes from 1996 to 2020

Stock Quote API & Stock News API supplied by www.cloudquote.io
Quotes delayed at least 20 minutes.
By accessing this page, you agree to the following
Privacy Policy and Terms Of Service.


 

IntelligentValue Home
Close Window

DISCLAIMER

All content herein is issued solely for informational purposes and is not to be construed as an offer to sell or the solicitation of an offer to buy, nor should it be interpreted as a recommendation to buy, hold or sell (short or otherwise) any security.  All opinions, analyses, and information included herein are based on sources believed to be reliable, but no representation or warranty of any kind, expressed or implied, is made including but not limited to any representation or warranty concerning accuracy, completeness, correctness, timeliness or appropriateness. We undertake no obligation to update such opinions, analysis or information. You should independently verify all information contained on this website. Some information is based on analysis of past performance or hypothetical performance results, which have inherent limitations. We make no representation that any particular equity or strategy will or is likely to achieve profits or losses similar to those shown. Shareholders, employees, writers, contractors, and affiliates associated with ETFOptimize.com may have ownership positions in the securities that are mentioned. If you are not sure if ETFs, algorithmic investing, or a particular investment is right for you, you are urged to consult with a Registered Investment Advisor (RIA). Neither this website nor anyone associated with producing its content are Registered Investment Advisors, and no attempt is made herein to substitute for personalized, professional investment advice. Neither ETFOptimize.com, Global Alpha Investments, Inc., nor its employees, service providers, associates, or affiliates are responsible for any investment losses you may incur as a result of using the information provided herein. Remember that past investment returns may not be indicative of future returns.

Copyright © 1998-2017 ETFOptimize.com, a publication of Optimized Investments, Inc. All rights reserved.