Insulation industry news from Global Insulation

Israel: Chemicals company ICL has launched VeriQuel R100, a reactive phosphorous flame retardant for rigid polyurethane (PU) insulation. VeriQuel R100 chemically bonds with the polymer matrix in PU insulation. ICL invested US$2m in the development of VeriQuel R100. Four US-based roofing producers also launched products featuring VeriQuel R100, with six more reportedly ‘in development’ in the US and Europe.

US: Rockwool has approved a US$100m investment in the construction of a new line at its Marshall, Mississippi, insulation plant. When commissioned in 2027, the line will produce wallboard with WR-Tech enhanced water repellence and CR-Tech corrosion resistance. Dow Jones Institutional News has reported that the line is intended to meet increased demand for industrial insulation in the Gulf of Mexico region.

Rockwool CEO Jes Munk Hansen said "North America – and the US specifically – is an important strategic growth area for us. We have four insulation factories on the continent, with a fifth on the way in Washington state."

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.

UK: Knauf Insulation has reopened its St Helens glass wool insulation plant in Merseyside following a 25,000t/yr capacity expansion. Local press has reported that the upgrade included the installation of a larger furnace for melting locally-sourced glass cullet. The new equipment allows for the addition of higher-thickness products to Knauf Insulation’s existing ranges.

Merseyside Mayor Steve Rotheram attended the reopening and noted the plant’s importance in continuing St Helens’ tradition of glass products manufacturing.

Germany: Sto has revised its 2024 results forecast downwards following ‘increased competition’ and ‘weak demand’ in the year-to-date. Local press has reported that the producer expects to record sales of €1.6bn, down by 7% year-on-year from €1.72bn in 2023. Sto had previously forecast a 3.5% decline, to €1.66bn. As a result, it now anticipates a 46 – 61% year-on-year drop in earnings, from €127m to €50 – 68m. Previously, Sto had forecast earnings of €62 – 82m, down by 35 – 51%.

Hungary: Masterplast has entered talks with a ‘major Hungarian lender’ to refinance its debt following concerns over its liquidity. It is reportedly requesting a one-time exemption from its bond obligations to allow for a new credit line of up to €7.6m for a three-year term, according to the producer. Its bondholders are currently voting on the proposal. Bne IntelliNews has reported that the developments follow ratings agency Scope Ratings’ downgrading of Masterplast’s rating to CCC.

Masterplast CEO Tibor David said that talks are ‘progressing well.’