Owens-Corning Fiberglas agreed to sell a unit.

The world’s largest maker of glass fiber materials said it has agreed to sell its Ladish Co. unit for $236 million as part of a previously announced restructuring program. The unit, which makes forgings for aerospace and industrial applications, is being sold to an investor group led by Gibbons, Green, van Amerongen, a Los Angeles and New York investment firm specializing in leveraged buyouts. The group includes members of Ladish management.