BANGALORE, April 28 Reuters – Building materials maker Owens Corning OC.N posted quarterly results that handily beat market estimates and forecast strong 2010 earnings, citing growth at its roofing business.Shares of the Toledo, Ohio-based company jumped 14 percent to a year-high of $33.94. They later pared some gains and were trading up 10 percent at $32.91 Wednesday afternoon on the New York Stock Exchange.The company said its roofing business, which makes and sells residential roofing shingles and oxidized asphalt materials used in residential and commercial construction, has seen increased volumes as customers restock inventories from levels that were below normal at the end of 2009.”As demand from the residential and industrial markets comes back, the company should be able to generate incremental revenue without adding much to their cost structure,” said Longbow Research analyst Garik Shmois, who has a “neutral” rating on the stock.

via UPDATE 3-Owens Corning Q1 tops Street, sees strong FY profit | Reuters.

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MoDOT Turns Old Roofing Shingles Into New Roadways -- St. Louis News -- Daily RFT

Here's an interesting little nugget to file in the Department of “Bet Ya Didn't Know That.”

Did you know that the Missouri Department of Transportation is recycling roof shingles for roads? It's true. Last year MoDOT used 53,000 tons of recycled asphalt shingles (enough to cover 17,000 homes) for roadwork projects across the state.

Shingles are mostly asphalt making them ideal for road construction. MoDOT estimates it saved about $20 million last year using recycled shingles and reduced the amount of petroleum (a key ingredient of asphalt) required for roadwork by 20 percent.

via MoDOT Turns Old Roofing Shingles Into New Roadways -- St. Louis News -- Daily RFT.