Insulation industry news from Global Insulation

Lithuania: Paroc plans to increase the production capacity of its stone wool plant in Vilnius to 115,000t/yr from 75,000t/yr. The subsidiary of US-based Owens Corning intends to make multiple minor upgrades to reach this goal, according to the Verslo Zinios newspaper. It hopes to achieve the increased production capacity by 2022 subject to market demand.

Lithuania: Paroc has announced that it does not expect its revenue from its operations in Lithuania to grow in 2016. The mineral wool manufacturer saw its profit in the country fall by 28.3% year-on-year to Euro4.24m in 2015 from Euro5.92m in 2014. Its revenue fell by 7.1% to Euro42.9m, according to BNS News.

"The income from sales within the country increased year-on-year, while exports to Russia, Belarus and Latvia shrank considerably. The decline was in part compensated by the sharp growth of supplies to Poland," Paroc said in its annual report. According to the statement, the company's 2016 income and profit are not expected to rise.

Finland/Lithuania: Paroc, which makes insulation materials, has given notice to 17 people in its financial administration departments at four locations in Finland. The company said that it will now concentrate its financial administration in Lithuania, where it will establish a service centre.

Paroc said that the move was not about looking for a country with cheaper labour, but about the need to concentrate employees in one location. Paroc operates in 13 countries and has manufacturing in Finland, Sweden, Lithuania and Poland.