Insulation industry news from Global Insulation

US: Holcim US has signed a deal to acquire advanced insulation systems producer Ox Engineered Products for US$136m. Switzerland-based Holcim says that the deal is scheduled for completion later in 2024. Ox Engineered Products’ product range includes IsoREDCi polyisocyanurate (PIR) insulation and Ox-IS and Strong-R insulated structural sheathing.

Holcim CEO Miljan Gutovic said "Ox Engineered Products is the ideal addition to Holcim’s business in North America, with its complementary range of proprietary technologies and trusted brands. Its premium solutions enable us to offer the full suite of building envelope systems to our North America customers, from residential to commercial applications. I warmly welcome all 210 employees of Ox Engineered Products to the Holcim family."

Switzerland: Holcim Technology has patented a new process to produce boards from isocyanurate foam, Chemicals & Chemistry has reported. The board has a polyurethane or polyisocyanurate foam core, produced by reacting an isocyanate compound with an aromatic polyester polyol in the presence of a blowing agent mixture.

US: Holcim Building Envelope supplied insulation and roofing systems, including its Elevate ISOGARD polyisocyanurate (PIR) insulation boards, to the 62-storey Winthrop Center tower block in Boston, Massachusetts. The Winthrop Center is the largest office building ever built on the Passive House positive energy efficiency model. Holcim Building Envelope says that its insulation and roofing systems deliver 40% better thermal performance than competing products, helping the block to achieve a 150% reduction in net energy use compared to an average Class A building in Boston.

Holcim Building Envelope commercial roofing systems & lining president Kristin Beck said "The Passive House certification of the Winthrop Center highlights the superior sustainable performance and quality of our Elevate products. This certification reinforces the effectiveness of Holcim's innovative building envelope solutions in significantly reducing energy consumption, and it also sets a standard for sustainable construction in cold climate regions."

US: Global cement producer Holcim has successfully acquired leading US independent spray foam producer SES Foam. SES Foam has a track record of double-digit growth and expects to record sales revenues of US$200m in 2022, according to Holcim. The group says that the producer stands out for its value-added services to contractors, including onsite technical instruction, business consulting, branding and lead generation support.

Global head of solutions and products Jamie Gentoso said “I warmly welcome all SES employees into the Holcim family. With SES’ leadership in thermal insulation, we are expanding our range of innovative systems for sustainable buildings, from roofing to insulation, to enhance buildings’ energy-efficiency. We look forward to entering our next era of growth together.”

Switzerland: Holcim increased its consolidated sales by 17% year-on-year to US$15.3bn in the first half of 2022 from US$13.1bn in the first half of 2021. Its recurring earnings before interest and taxation (EBIT) were US$2.26bn, up by 9.6% from US$2.06bn. Solutions and products sales grew by 84% to US$2.72bn from US$1.48bn and accounted for 18% of group sales, compared to 8% of its full-year 2020 sales. The group’s operating profit rose by 15% to US$2.15bn from US$1.86bn, while its net debt rose by 7.5% to US$13.9bn from US$12.9bn.

Holcim called market conditions “volatile,” but forecast net sales growth of 10% year-on-year on in 2022, upgraded from 8%. The group forecast double-digit net sales growth in its Solutions and Products division to US$5.2bn for the year. It also expects to end the year with accelerated progress towards its 2025 sustainability targets, positive growth in its recurring EBIT and a free cash flow above US$3.12bn.

Chief executive officer Jan Jenisch said “Our record results, from net sales to recurring EBIT and earnings per share, are setting solid foundations to deliver our Strategy 2025 - Accelerating Green Growth. Our roofing and insulation businesses stood out as growth engines, on track to reach pro-forma net sales of US$3.64bn in 2022.”

US: Switzerland-based cement manufacturer Holcim has agreed to buy SES Foam for an undisclosed sum. The company manufactures spray foam insulation and roofing products. It had forecast net sales of US$200m in 2022. The transaction follows recent acquisitions Holcim in the light building materials market such as Firestone Building Products and Malarkey.

Jamie Gentoso, Head Solutions & Products at Holcim said, “This is another exciting step in the expansion of Solutions & Products, advancing our ‘Strategy 2025 – Accelerating Green Growth’. SES has a proven track record of growth and innovation in thermal insulation with a focus on more sustainable solutions, making them highly complementary to our roofing and insulation business.”

SES Foam was founded in 2009 and is based at Spring in Texas. Its SucraSeal product was the first sucrose-based spray foam insulation to be certified by the US Department of Agriculture for its high bio-based content.

Poland: Major cement producer Holcim has entered into an agreement to acquire waterproofing, adhesives, polystyrene products and plaster producer Izolbet. Izolbet employs 170 people and operates four production plants in Budzyń, Gostynin, Kleszczów and Chmielów, with most of its business in the high-growth repair and refurbishment market. Holcim says that the new acquisition will help to strengthen its footprint in the renovation, thermal insulation and finishing segment.

Europe, Middle East and Africa region head Miljan Gutovic said “Speciality building solutions have been a key focus for expanding Solutions & Products in Europe, notably with the recent acquisitions of PRB Group in France and PTB-Compaktuna in Belgium. I’m excited to be welcoming all of Izolbet’s employees into the Holcim family, to unleash our next chapter of growth together.

France: The Swiss multinational cement manufacturer Holcim has completed its acquisition of the French speciality building solutions producer PRB Group. The leading cement producer outside of China said that the acquisition will accelerate its transformation into a 30% solutions and products company in sales terms by 2025.

Europe, Middle East and Africa regional head Miljan Gutovic said “I warmly welcome all members of the PRB Group into the Holcim family. I’m excited about the outstanding expertise and passion they bring to our team in France. This is another exciting step in the expansion of solutions and products in the highly attractive repair and refurbishment market. We look forward to unleashing our next era of growth together to make cities greener with more energy-efficient and long-lasting buildings.”