Insulation industry news from Global Insulation

Denmark: Etex has concluded a deal to acquire insulation systems producer Skamol. Skamol's products include ceramic insulation and boards made with moler, vermiculite or calcium silicate. The company operates three plants in Denmark and one in Poland. It is headquartered in Aarhus, Denmark, and employs 300 people globally.

Serbia: Masterplast has concluded a deal to acquire the outstanding 49% stake in mineral wool insulation producer Masterwool MW-1. Masterwool MW-1 is currently building a new Euro20m mineral wool insulation plant in Vojvodina. The project is supported by a grant from Hungarian state-owned Hungarian Export Promotion Agency (HEPA).

Masterplast plans to commence a Euro50m growth phase in the near-term future. It expects its sales to drop in the first half of 2023 due to negative trends in new home construction. However, it expects recent new expanded polystyrene (EPS) and extruded polystyrene (XPS) insulation capacity to partly offset this.

India: Saint-Gobain has entered into an agreement to acquire Indian market leader glass wool insulation producer Twiga Fiberglass, local press has reported. Twiga Fiberglass has produced insulation as a licensee of Saint-Gobain's glass wool insulation technology since 2005.

Saint-Gobain previously acquired stone wool insulation producer Rockwool India in February 2022.

Argentina: Saint-Gobain has completed its acquisition of stone wool insulation producer Termica San Luis. Termica San Luis employs 40 people at its San Luis insulation plant. It is the market-leading stone wool insulation producer in Argentina.

Hungary: Masterplast has concluded an agreement to acquire Pimco. Pimco is in the process of establishing a Euro35.7m, 20,000t/yr glass wool plant at Szerencs, Borsod-Abaúj-Zemplén County. Növekedés News has reported that an advance investment by Masterplast in the company will enable Pimco's Szerencs plant project to move into the implementation phase. It would then enter production in 2024. Masterplast will fund the investment using the proceeds of its Euro23.3m stock market capital raising in October 2022. The upcoming Szerencs plant was previously the subject of a Euro35.7m grant from the Hungarian Investment Promotion Agency.

Masterplast employs 1400 people across 10 countries.

Germany: Netherlands-based FALK Bouwsystems has agreed to purchase Salzgitter Bauelemente from Salzgitter Group for an undisclosed price. Steel construction element manufacturer Salzgitter Bauelemente will continue to do business as a independent subsidiary with its existing managing director Kai Bohmbach. Under the terms of the acquisition, Salzgitter Bauelemente’s plant in Lower Saxony will continue to be supplied with raw materials from Salzgitter Flachstahl. However, its building and storage area will remain the property of Salzgitter Flachstahl and are leased to the purchaser for a minimum rental period of 10 years, with an option to extend.

FALK Group said, “With the acquisition of Salzgitter Bauelemente, we are pursuing the goal of entering the German market independently. To this end, we will build on the existing know-how and intend to expand the production volume at this location. The investment measures planned by management are also to be continued.”

Salzgitter Bauelemente produces steel construction elements, including sandwich panels made with polyurethane and mineral wool cores. Sandwich panel producer FALK Bouwsystems produces around 5Mm²/yr, about twice that of Salzgitter Bauelemente.

Belarus/Russia: US-based Owens Corning has agreed to sell its Belarusian and Russian assets to materials and technologies company Umatex. Umatex is a subsidiary of Russian state-owned nuclear power provider Rosatom. World Service Wire News has reported that the assets in question include the Gus-Khrustalny glasswool plant in Vladimir Oblast and the Tver mineral wool insulation plant in Tver Oblast, both in Russia.

Owens Corning chair and CEO Brian Chambers said "This announcement represents the final step in our process to fully exit our operations in Russia. I would like to thank our colleagues in Russia for their contributions to our company and customers over the years."

Spain: Norway-based BEWi has concluded a deal for the acquisition of an 80% stake in Aislamientos y Envases. Aislamientos y Envases operates three Spanish insulation plants, where it produces its expanded polystyrene (EPS) insulation products, including boards for underfloor heating and panels for external thermal insulation composite systems.

BEWi CEO Christian Bekken said “Through this acquisition, we are expanding our geographic footprint into Spain, primarily within the market for insulation solutions." Bekken added "There is a huge need to make buildings in Europe more energy efficient, to reduce CO₂ and energy costs.”

Denmark: Sweden-based Indutrade has concluded an agreement to acquire foam producer Bramming Plast-Industri. The parties expect to close the transaction later in 2022.

Bramming Plast-Industri's products include Inotan polyurethane (PU) and polyisocyanurate (PIR) foams and Setex recycled PU granular foam.

Romania: Austria-based Austrotherm has concluded an agreement to acquire 100% ownership of extruded polystyrene (XPS) insulation panels producer Zentyss. Zentyss operates a plant in Arad, Transylvania.

Austrotherm managing director Klaus Haberfellner said "This acquisition increases the security of supply and the range of products for customers in Romania and neighboring countries. The central location of Arad enables the optimisation of transport routes to customers, which means that CO₂ emissions can be massively reduced." He concluded "Our leadership position in XPS in Romania is now well secured. I am particularly pleased to welcome 106 new colleagues to our company."