Recticel’s insulation sales down following MDI supply shortage

Belgium: Recticel’s insulation sales fell by 2% year-on-year to Euro60.1m in the first quarter of 2018 from Euro61.3m in the same period in 2017. Although it raised its prices due to increased raw materials costs it blamed a fall in volumes on poor weather and an industry-wide polyisocyanurate P(IR) insulation board unavailability in mid-2017 due to a methylene diphenyl diisocyanate (MDI) supply shortage. The company added that a new insulation plant it is building in Finland is due to start up in the fourth quarter of 2018.