Insulation industry news from Global Insulation
US: China’s Wanhua Chemical plans to build a US$1.1bn methylene diphenyl diisocyanate (MDI) plant in Louisiana. The chemical producer has not revealed where it intends to build the plant, what size it will be or when it plans to start construction, according to local media. It expects to choose a site later in 2017. Wanhua Chemical will contribute about US$950m towards the project and US$170m will come from an unnamed partner.
Wanhua Chemical operates two MDI plants in China. In 2011 it spent US$1.7bn when it purchased BorsodChem, a Hungarian polyurethanes manufacturer. Louisiana state officials have reportedly been discussing the project with Wanhua since 2013.
US: Installed Building Products has acquired Southern Insulators & Specialties, a fibreglass and spray foam insulation installer based in Covington, Louisiana. No value for the purchase was released.
"Southern has a large presence in the state of Louisiana with trailing-12 month revenues of approximately US$5m," said Jeff Edwards, Chairman and Chief Executive Officer. He added that Installed Building Products has completed six acquisitions, representing nearly US$53m of annual revenue, since the start of 2016.