Insulation industry news from Global Insulation

Bulgaria: Austrotherm Bulgaria plan to invest €1.53m in an expansion to a warehouse at its Sofia insulation plant. Local press has reported that the project is scheduled for completion in late 2024.

General manager Diana Chobanova said "The investment we are launching today will allow Austrotherm Bulgaria to strengthen its leadership position as the most sustainable producer of insulation on the Bulgarian market."

Serbia: Austria-based Austrotherm has started operation on a new extruded polystyrene (XPS) production line at its Nis plant. The upgrade cost Euro3.5m and has created 15 new jobs at the site. It originally purchased the expanded polystyrene (EPS) and XPS plant in 2005 and it exports products to Albania, Kosovo, Croatia, Bosnia and Herzegovina, Montenegro, Macedonia and Bulgaria.

“We are particularly proud that we were able to complete the capacity expansion in Serbia as planned, despite all the Corona adversities,” said Klaus Haberfellner, managing director of Austrotherm.

Bulgaria: Bulgarian insulation materials producer Hydroizomat said that its net loss rose to Euro613,600 in the first nine months of 2015 from Euro92,201 in the same period of 2014. Its operating loss jumped to Euro511,219 from Euro29,708 in the year-ago period. The company's total revenue plunged to Euro226,908 in the first nine months of 2015 from Euro482,499 in the same period of 2014.

Bulgaria: Insulation materials producer Hydroizomat plans to pay no dividend for 2014 as it ended the year at a loss. The proposal will be voted at a general shareholders' meeting on 6 July 2015. Hydroizomat posted a preliminary net loss of Euro48,100 in 2014.

Bulgaria: Bulgarian insulation materials producer Hydroizomat has announced that its non-consolidated loss fell by 24% year-on-year to Euro95,100 in the first nine months of 2014. Non-consolidated revenues fell to Euro484,667 in January - September 2014 from Euro823,167 in the same period of 2013, while sales expenditures fell to Euro22,637 from Euro50,934. Its non-consolidated operating loss fell to Euro29,839 in the first nine months of 2014, compared to Euro92,605 in the same period of 2013.