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FLUID CONTAINMENT, INC.: A NEW NAME FOR THE QUALITY PRODUCTS AND TALENTED PEOPLE YOU ALREADY KNOW. As a part of its strategic realignment, Owens-Corning Fiberglas" has said its tank division to a new company, Fluid Containment, Inc- Why did that sale take so long? In an industry our size,Owens-Coming's intention to divest its finished product manufacturing divisions was no secret. It was,after all,published in the company's annual report. However,few of us knew how difficult it would be to find the right purchaser for the tank division. What made ' it difficult? Two principal reasons. Reason #1: The new company would be an important customer to Owens-Corning. It takes more than 5000 pounds of resin and fiberglass to make the average tank. Multiply that times the largest underground storage tank market share in the world,and you can see just how impurumt our new company is to Owens-Corning's future. We were a small division to this$3 billion company; now we are one of its largest and most important customers. Reason #2s The new company and Its management had to measure up to the potential liabilities of hazardous liquid storage. The tanks our people make protect you from significant environmental liabilities. That takes more than manufacturing experience and good fiberglass. You also need experienced management and fiscal depth. Therefore,any purchaser had to prove its mettle to Owens-Corning. Having passed that test,we intend to pass muster with you. What is new? A few people and our responsiveness As Fluid Containment,we.have some new managers. But compared to life as a division of a$3 billion company,the bureaucracy we once knew is history. Then,we were just one gun on the deck of a hard-to-turn,harder-to-stop battleship. Now,we're a nimble destroyerenjoying freedom of ac- tion and independence. We believe responsiveness and service improve when a management tva n can smell the resin from their desk,,and when the shop floor shares in the company's snccc, anagement experiences Who is the new management team? I'Ka { _ y * - c ii leve Harcrow, president& CEO Bill King, vire president of operations Steve Mary, vire president, field service Steve was most recently senior vice president of Bill spent more than 12 years with Baker Steve spent more than 20 years with Owens, Baker Hughes Incorporated and president of Hughes,most recently as vice president of Corning;the last three ye:us as m;mager of field EnviroTech. This$700 million group ntanufac- manufacturing far I Iugh€s Christensen. He services, the"lue job he will hold with Fluid tured equipment for pumping,separating,and managed the design,construction,and move Containment. This group provides contractor monitoring processes involving solids in liquids. into Hughes'first grass-roots manufacturing fa- support services,training more than 2500 When Steve took his post there,it was a collec- eility since 1911,now the premier,rock hit contractors on proper tank installation during tion of 17 separtte companies with disparate plant in the world. In today's manufacturing Steve's tenure. Steve also buil n temn of 14 strategies. When Steve left,the company was environment, Bill knows how to use a flat orga- service technicians,now considered the hest in united under one name(EnviroTech)with an nization to bring the customer's needs right to the tank industry. With Fluid Containment, integrated strategy for providing technologies the shop floor. He has moved decision-making Steve and field service will be located in the. for process efficiency and the environment. directly to the individuals doing the work, Houston plant—and corporate headquarters— Steve spent 20 years at Baker Hughes. building a team that ensures customer service, even closer to the day-in/day-out needs of our enhances quality,and controls costs. customers.