Insulation industry news from Global Insulation

Germany: Karl Bachl Kunststoffverarbeitung, a long-time distributor of Styrodur extruded polystyrene (XPS) insulation, has entered into an agreement to acquire the producer from chemicals company BASF. Plastverarbeiter News has reported that Styrodur’s 50 employees will stay on at BASF. The deal is scheduled for completion by 30 June 2025.

UK: France-based Saint-Gobain has completed its acquisition of façade mortars and external wall insulation (EWI) systems producer Kilwaughter Minerals. Kilwaughter Minerals operates a plant and limestone quarry in County Antrim, Northern Ireland, and three distribution centres in Great Britain and Ireland, with a total of 200 employees. Its brands include K Rend renders and K Systems EWI systems.

Türkiye: Izocam, a joint venture of Kuwait-based Alghanim Industries and France-based Saint-Gobain, has acquired insulation producer HİS Yalıtım. HİS Yalıtım produces stone wool insulation at its İncesu plant in Kayseri, which it sells under the TerraWool brand. Reuters has reported that that it employs 170 people.

Greece: Austria-based Austrotherm has acquired insulation producer Monosi for an undisclosed sum. PlastEurope News has reported that Austrotherm will retain Monosi’s Chalkida extruded polystyrene (XPS) insulation boards plant and its branding. As a result of the acquisition, Austrotherm now controls 29 European plants.

Austrotherm previously announced on 26 September 2024 that it was in on-going negotiations to acquire a further insulation producer in Türkiye.

US: Holcim US has signed a deal to acquire advanced insulation systems producer Ox Engineered Products for US$136m. Switzerland-based Holcim says that the deal is scheduled for completion later in 2024. Ox Engineered Products’ product range includes IsoREDCi polyisocyanurate (PIR) insulation and Ox-IS and Strong-R insulated structural sheathing.

Holcim CEO Miljan Gutovic said "Ox Engineered Products is the ideal addition to Holcim’s business in North America, with its complementary range of proprietary technologies and trusted brands. Its premium solutions enable us to offer the full suite of building envelope systems to our North America customers, from residential to commercial applications. I warmly welcome all 210 employees of Ox Engineered Products to the Holcim family."

Austria: Law firm Schoenherr says that it advised Austrotherm on merger control filings for the latter’s acquisition of the expanded polystyrene (EPS) insulation business of building materials producer Brucha. Prior to completion of the deal, Austrotherm employed 1400 people and produces insulation at 26 plants in 12 countries in Central and Southeast Europe and Türkiye.

Lithuania: Russia-based TechnoNicol has divested its Baltic roofing and waterproofing membranes business, Mida, to France-based Soprema. The business includes plants in Lithuania. TechnoNicol acquired Mida in 2001. BNS News has reported that its sales dropped by 17% to €38m in 2023, following the Russian invasion of Ukraine.

Mida said "Mida has completely cut off all ties with its former owner, Technonicol. Mida is beginning a new stage in the growth of its business in Europe."

Australia: Armacell has acquired the engineering business of insulation jacketing producer E&M Industries. The group says that the business will continue to operate at its existing site in Perth, Western Australia, under the new name Armacell Australia Engineering.

Armacell Asia-Pacific vice president Liam Douglas said "This deal reinforces our endeavour of transitioning from a materials manufacturer to an industrial solutions provider with a strong focus on energy-saving solutions. E&M Industries has a successful track record in the insulation jacketing industry and we are confident that their experienced team will contribute to our growth in Australia."

Austria: Strabag has acquired hemp insulation producer Naporo Klima Dammstoff from Synthesa. SeeNews has reported that Strabag expects the acquisition to help it to expand its product range in line with its 2040 decarbonisation target. Meanwhile, Naporo Klima Dammstoff says that it will work with Strabag to explore new applications for its products, including in green roofs and as acoustic insulation.

Synthesa managing director Georg Bluemel said “In Strabag, we have found a partner who will continue to write Naporo’s success story in the future. We look forward to additional growth prospects for the company and its employees.”

US: Owens Corning has launched an offer to exchange any and all outstanding 3.5% senior notes due 2030 issued by Masonite International Corporation for new notes to be issued by Owens Corning. Masonite is currently soliciting consents to adopt proposed amendments to the indenture governing its existing notes, aiming to eliminate certain covenants, restrictive provisions and events of default from the indenture.

The parties agreed to Owens Corning’s acquisition of Masonite in February 2024, and expect to complete the deal in mid-2024.