Insulation industry news from Global Insulation

Germany: Insulation installation start-up Varm has secured €5.7m in seed funding to expand its operations across Europe. The round was led by Emerge and Pale Blue Dot, with contributions from Noa, Foundamental and previous investors.

CEO Christian Gruener said “We are building a scalable infrastructure for insulation. This funding will help us expand and innovate, making insulation more accessible and affordable for everyone.”

Germany: Sto has published its outlook for 2024, after recording ‘below target’ turnover in the first quarter of the year. The producer attributed this to adverse weather conditions in January 2024 and reduced working days in March 2024. For the full year, it now expect to record a turnover of €1.79bn and earnings before interest and taxes (EBIT) of €113 – 138m. It noted particular on-going ‘major challenges’ in its domestic German market.

Germany/Ukraine: The Würzburg Prosecutor's Office has opened a preliminary investigation into Knauf over its alleged involvement in the on-going reconstruction of Russian-occupied Mariupol. The investigation will seek to establish whether an ‘initial suspicion’ of criminal activity exists. Germany-based media outlet ARD published its allegation of Knauf’s involvement in the reconstruction via the use of its materials earlier in April 2024.

The producer denied the allegations, adding that it complies with relevant laws and sanctions.

Germany: Kingspan acquired the Ronneburg stone wool insulation plant in Thuringia from Karl Bachl on 4 April 2024. Karl Bachl says that the divestment will help it to concentrate more on its core business. Besides insulation, the company also supplies construction services, prefabricated buildings and stone and precast concrete elements.

Ireland-based Kingspan plans to use the acquisition to grow its production capacity and ‘complete’ its insulation product offering.

Germany: Ireland-based Kingspan completed its acquisition of flexible wood fibre insulation producer Steico for Euro250m on 5 January 2024. Alliance News has reported that Kingspan issued shares to former Steico owner, Austria-based Schramek, following its completion of the deal.

Germany: EU competition authorities have approved Ireland-based Kingspan’s acquisition of a 51% majority stake in wood fibre insulation producer Steico. Kingspan concluded the deal with wood products company Schramek in July 2023, and expects to complete its acquisition of the stake in early January 2024.

Germany: Measurement systems supplier Fagus-GreCon has announced the appointment of Mario Haas to its management team. Haas has served as head of the company’s fire protection unit since December 2019 and its head of information technology since December 2020. Haas joined Fagus-GreCon from glass producer SCHOTT in 2019. He has worked in industry since 2005, after gaining his engineering degree from Dortmund University and Masters in Business Administration (MBA) from the Stuttgart Institute of Management and Technology. Mario Haas takes the place of former technical managing director Michael Gawronski on the management team, who has left the company with immediate effect. Uwe Kahmann will remain responsible for commercial management, while Alexander Kuppe continues to head the company’s marketing, sales, after sales and service departments.

Chair Stephan Weber said "The shareholders would like to thank Dr Gawronski for his important achievements and contributions and wish him all the best for the future. At the same time, with the appointment of Mr Haas as the third managing director, we are emphasising the growing importance of the fire prevention business unit in our company."

Germany: Masterplast has inaugurated the new Euro3m storehouse at its Achersleben non-woven fleece products plant in Saxony-Anhalt. The plant produces non-woven fleece products for various applications from polyethylene (PE) and polypropylene (PP). Masterplast has announced a budget for Euro50m of upcoming investments across Central and Eastern Europe.

Chair Tibor David said “The new hall allows for flexible, smaller-scale servicing and is a crucial step in strengthening our market positions in the EU's largest market.”

Germany: Grenzebach says that it has completed the construction of the Hütten wood fibre insulation plant in Bavaria's Neustadt an der Waldnaab District for Ziegler Group subsidiary Naturheld. The plant took a total of 12 months to build, and will run on 100% renewable energy. Naturheld will use waste wood from Ziegler Group's wood processing operations in the region. Grenzebach says that it developed a novel wood blending system for implementation at the plant. The supplier said that the plant has a wood fibre production capacity of 6t/hr, and is capable of expanding to 10t/hr. The plant gives Ziegler Group the capacity to produce 1.5Mm²/yr of its wood fibre insulation product.

Managing director Stefan Ziegler said "Building the wood fiber insulation board plant within such an extremely short period was possible only thanks to the close cooperation with a renowned automation partner of international standing like Grenzebach. As a solution provider, Grenzebach supplied both the necessary product and technical know-how and expertise and was able to make the required capacities available at all times."

Austria: Austrotherm has invested Euro20m on an upgrade to its extruded polystyrene (XPS) production capacity at its Purbach insulation plant. The project added a production hall with new extrusion technology supplied by Germany-based KraussMaffei Group. The expansion has also created 20 new jobs at the site. A further upgrade to the plant will be built in 2023 when a photovoltaic system will be installed on the roof of the hall.