
Insulation industry news from Global Insulation
Qubiqa buys CH System
15 August 2023Denmark: Qubiqa has acquired robotics company CH System. The purchase will see it to gain access to several new business areas such as food handling, pharmaceutical handling and so-called ‘Power-to-X’ energy conversion applications. The move will increase Qubiqa’s staff by 70 persons.
Axel Manøe Jepsen, chair of Qubiqa, said "Today, close to 90% of our activities are within our core business for the insulation industry. Strategically, CH System fits ideally with our ambition to expand our business areas and ensure that we are more broadly based in several markets. We believe that the acquisition strengthens the future of both companies."
Prior to the acquisition, Qubiqa had 240 employees divided between sales, administration, engineering and production in Esbjerg as well as production in Poland. The company develops and produces automated packaging solutions for the insulation manufacturers around the world.
CH System was established in 1968. It produces handling and packaging systems for a variety of industries including the food packaging, mineral wool handling and biomass handling sectors.
Saint-Gobain subsidiaries start glass wool recycling agreement with Norrecco in Denmark
17 July 2023Denmark: Saint-Gobain’s subsidiaries Isover and Leca have started an agreement with waste management company Norrecco to recycle glass wool insulation. Under the new system, contractors will be able to return used and excess Isover glass wool to Norrecco's waste treatment stations at Prøvestenen in Copenhagen and at Agerskov in Southern Jutland. Norrecco will then pass the glass wool to Leca Denmark’s plant at Hinge near Randers. Here it will be used as a raw material in the production of lightweight expanded clay aggregate (LWA) products. LWA is used in a variety of applications such as insulation or as a structural filler. Leca added that LWA can be recycled repeatedly.
Mona Ammitzbøll Rasmussen, the Sustainability Engineer at Saint-Gobain Denmark, said "From the moment our glass wool leaves the factory, we want to support the idea that the material will one day return and be used in the production of new insulation materials, rather than ending up in landfills. It is an unnecessary waste that we need to eliminate as soon as possible."
Leca Denmark has the capacity to accept around 1000t/yr of used or excess glass wool from the Danish market. The company said that, although it represents a small portion of the total production, it reduces the need to extract a corresponding amount of natural clay, which is the primary raw material in its Leca LWA product. Isover is also working on publishing guides to better help contractors sort between the different types of mineral wool to assess purity ahead of potential recycling.
Etex acquires Skamol
09 May 2023Denmark: Belgium-based Etex has completed its acquisition of Skamol, a producer of calcium silicate and vermiculite high-temperature insulation systems.
Etex's head of passive fire protection and high-performance insulation Tanguy Vanderborght said "We warmly welcome Skamol and its 300 teammates within Etex. Joining forces with them strengthens Etex’s position and will accelerate our growth in the high temperature insulation market where we already are a key player with Promat. With our combined expertise in complementary technologies, we will gain scale to extend our geographic reach and expand our offering to our combined customer base.”
Russia: Denmark-based Rockwool addressed the reasoning behind its decision to keep its Russian business operating, in light of the on-going Russian invasion of Ukraine since February 2022. Rockwool's Russian subsidiary continues to operate four stone wool insulation plants, without receiving any investments or supplies from the parent company. Esmerk M-Brain News has reported that Rockwool described itself as a 'passive shareholder' in the business.
Speaking at Rockwool's annual general meeting, chair Thomas Kähler said that the group's continuing ownership of its activities in Russia is the group’s 'least bad option.' Addressing the purported possibility of nationalisation of any assets abandoned by Rockwool, Kähler reportedly added "It will not benefit Ukraine to send value in the amount of between US$722m and US$877m into the hands of Russia."
In February 2023, The Danish Business Authority announced an investigation into Rockwool's alleged supply of its products to the Russian military, in breach of existing sanctions, between 2015 and 2020. The agency confirmed its launch of its investigation in a statement to Reuters. In a statement of its own, Rockwool said "We fully respect all sanctions applicable at any given time," adding that it is 'impossible for us to know or have any control over' the final destinations of its products.
Etex to acquire Skamol
28 March 2023Denmark: 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.
Price rises drive Rockwool’s sales and earnings in 2022
13 February 2023Denmark: Rockwool’s net sales grew by 27% year-on-year to Euro3.91bn in 2022 from Euro3.09bn in 2021. Its earnings before interest, taxation, depreciation and amortisation (EBITDA) rose by 6% to Euro638m from Euro602m. The group reported a strong start to 2022 with high demand for its stone wool insulation products. In the second half of the year it noted a decline in construction activity in key markets. However, it increased its prices leading to increased sales. By region the group said that sales grew in Europe and Asian markets, were flat in the US and declined in China.
Chief executive officer Jens Birgersson said, “Looking forward, we expect construction activity to continue slowing down in the coming period. We anticipate the energy efficiency agenda in both Europe and North America will accelerate renovation rates in the mid-term and create higher demand for our circular and non-combustible stone wool. We will continue to invest in more capacity to support our long-term growth”.
Together with the group’s chair Thomas Kähler, he also defended the company’s decision to continue the ownership of a subsidiary in Russia. “If we were to depart Russia, our factories and the intellectual property rights to our unique technology would most likely be nationalised or otherwise transferred to local players. Since the factories operate independently of our head office, they would continue to operate - just under different ownership. It therefore remains our view that retaining the business in Russia is the least bad option available to us. And of course, we will continue to comply with all international sanctions.”
Rockwool said that it had added production capacity for its Grodan agricultural stone wool range at its plant in Toronto, Canada and capacity for its Rockfon stone wool ceiling panel range at its Cigacice plant in Poland. In China it had opened a new plant at Qinyuan in December 2022 to replace its mineral wool unit at Guangzhou, which closed in September 2022. It also reported that plans to build a new stone wool plant at Soissons in France had been delayed due to a local legal challenge. Notable upgrades in 2022 included the start of a conversion project to electric melting technology from fossil fuels at the Flumroc plant in Switzerland, with a commissioning date scheduled for 2024. This project follows a similar one at the Moss plant in Norway that was completed in 2020.
Rockwool's continuing Russian activities draw protest
17 November 2022Denmark/Russia: The Association of Ukrainians in Denmark has launched a protest outside Rockwool's headquarters in Hedehusene to demonstrate against the company's continuation of activities in Russia via its local subsidiary. Local press has reported that Rockwool allegedly told the Association of Ukrainians in Denmark that divesting the Russian business would allow its profits and future cash flows to remain in Russia.
In October 2022, Rockwool clarified that it remains out of contact with its Russian business and views their relationship as a mere ownership of shares.
Indutrade to acquire Bramming Plast-Industri
31 October 2022Denmark: 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.
UK: Denmark-based Rockwool has launched its NyRock stone wool technology in the UK. The insulation producer says that the new product offers the “lowest lambda stone wool insulation available in the UK.” It is manufactured using a new patented production process and offers a thermal conductivity as low as 0.032W/mK. One of its key features is that it can deliver better insulation with comparatively thinner constructions compared to similar products. It also offers the usual benefits of stone wool insulation including durability, recyclability, acoustic properties and fire resistance. NyRock technology will be rolled out across a range of Rockwool insulation products during 2022.
Denmark: Rockwool recorded consolidated sales of Euro924m in the first quarter of 2022, up by 38% year-on-year from first-quarter 2021 levels. The group’s earnings before interest, taxation, depreciation and amortisation (EBITDA) rose by 12% year-on-year to Euro155m.
CEO Jens Birgersson “High demand and sales price increases drove double-digit revenue growth across almost all business units. While not materially affecting sales performance at this point, the terrible war in Ukraine and the challenging geopolitical situation are contributing to an already stressed global economy. Even with the price increases, the soaring energy, material, and logistics costs diluted margins in the first quarter. This will necessitate further price increases across the businesses.” Birgersson added “We expect to restore margins in the coming quarters.”
In its Outlook 2022, Rockwool predicted full-year net sales growth of 20 – 25% in local currencies and Euro425m-worth of group investments during the year, excluding acquisitions. It says that its business in Russia continues operating on a stand-alone basis, in order to avoid nationalisation and loss of its intellectual property.