Insulation industry news from Global Insulation

India: France-based Saint-Gobain has agreed to buy Rockwool India from Alghanim Group for an undisclosed amount. The acquisition will see Saint-Gobain enter the insulation sector directly in the country adding to its existing presence in the gypsum, glass and construction chemical sectors. The deal is subject to the completion of conditions set out in the agreement and approvals from the relevant authorities. It is expected to be completed in first quarter of 2022.

Rockwool India is a manufacturer of stone wool in India with a wide range of insulation products for thermal, acoustic and fire safety applications. It is also a licensee of Saint-Gobain technology for the manufacture of stone wool in the country. The company operates two production plants, one in Hyderabad and another in Silvassa, with a total capacity of around 50,000t/yr. Saint-Gobain also said that it has a ‘strong’ marketing network across the country.

Kuwait: Saint-Gobain and Kuwait’s Alghanim Industries have become joint venture partners in insulation producer Kimmco. Kimmco runs a mineral wool plant in Shuaiba-Kuwait, operating under license from Saint-Gobain Isover. It reported sales of around Euro70m in 2016 selling products in Kuwait and the Middle East.

Saint-Gobain and Alghanim Industries already operate joint venture in Turkey (Izocam) and Saudi Arabia (Siimco). Kimmco, like the other common joint-ventures, will be managed jointly by both partners and will be consolidated in Saint-Gobain's accounts.

Saudi Arabia: Saudi International Insulation Manufacturing Company (SIIMCO), a joint venture equally owned by Alghanim Industries and Saint-Gobain, has signed an agreement with the Yanbu Royal Commission to lease a 65,000m² site at Yanbu Al-Sinaiyah, Saudi Arabia for 30 years. Construction of plant is expected to begin in August 2013 and it is planned to be operational by early 2014.

"Our joint venture investment at Yanbu will supply local and regional industrial and building areas with a reliable source of high quality insulation, which is both environmentally-friendly and will assist in improving the fire safety of buildings," said Omar Alghanim, chief executive of Alghanim Industries. The agreement follows a comprehensive review of the environmental impact and approval for plant layouts, building structure and utilities from the Yanbu local authorities.

SIIMCO has invested about Euro45m in the project. When completed it will have a production capacity of 60,000Mt/yr, building minderal wool, thermal and acoustical insulation materials. The plant is intended to serve markets in Saudi Arabia and other regional markets in the Gulf Cooperation Council region such as Egypt and Iraq.