Insulation industry news from Global Insulation

Slovakia: Ireland-based Kingspan has stopped an attempt to buy Trimo due to difficulties obtaining approval from the European Commission. Regulatory approval failed to arrive before a deadline set in August 2020 when Kingspan and Polish private equity fund Innova Capital signed a contract for the sale, according to the Finance newspaper and the Slovenian Press Agency. During its investigation the commission expressed concerns that the acquisition could reduce competition and lead to price rises in several countries. It added that the acquisition would have created the largest supplier of mineral wool sandwich panels in Europe.

Trimo was acquired by Innova Capital in 2016. It produces mineral wool sandwich panels and is reportedly the second largest seller of the products in Europe with a 10% market share. It operates production plants in Slovenia and Serbia and most sells panels in Europe. Innova Capital is expected to select a new buyer for Trimo.

Brazil: Sulzer has received an order from Innova for the delivery of a foam production system with Sulzer's extruder-based melt impregnation technology. The 24,000t/yr plant in Triunfo, Brazil, will produce expanded polystyrene (EPS). Commercial production is planned to start in the middle of 2016.

Videolar-Innova is the first and only petrochemical company in Brazil to integrate the production units for ethylbenzene, toluene, styrene monomer and polystyrene into a single industrial plant. The newly-formed company is the biggest producer of styrene monomer and polystyrene in Brazil. With Sulzer's support, Videolar-Innova will enter the South American insulation market. The company will provide strategic downstream integration with unique production capabilities, in a region that still imports most of its EPS.