Insulation industry news from Global Insulation

Romania: Switzerland-based Swisspor Group has concluded a deal to acquire extruded polystyrene (XPS) insulation producer BriothermXPS. BriothermXPS sells its insulation across Central and Southeast Europe. Swisspor Group thanked its deal coordinator Concilium Consulting for helping it to conclude the agreement ‘despite a challenging market environment and complex transaction structure.’

Ireland: Kingspan expects its trading profit to amount to Euro875m throughout 2023, up by 5% year-on-year from Euro833m. The group noted a stable global backlog of orders. Nonetheless, its visibility remains low, amid challenges in ‘a number of end markets.’

Saudi Arabia: France-based Saint-Gobain agreed to buy waterproofing products company Izomaks Industries on 13 November 2023. Izomaks Industries employs 140 people across its two plants. Solradin News has reported that Saint-Gobain has been active in the Saudi Arabian insulation business since 2007.