Insulation industry news from Global Insulation
Ireland: Kingspan’s revenue rose by 12% year-on-year to Euro2.24bn in the first half of 2019 from Euro2.01bn in the same period in 2018. Its profit grew by 18% to Euro173m from Euro147m. Sales of its panel and boards products increased but panel sales growth was faster, supported by most territories with the exception of the Middle East.
“We have delivered a record first half with revenue growth in all our business units and a strong trading profit performance. We continue to expand our global production footprint with new facilities under construction in the US, Brazil and Sweden. The near-term outlook is solid although the political uncertainty in the UK, weakness in Serling, and weaker German economy are amongst risks we are monitoring closely,” said Gene Murtagh, the chief executive of Kingspan.
The building materials company is close to completing a new insulation panel plant at Modesto, California in the US. A new panel plant is also being considered in Pennsylvania, US and a new panel plant in Cambuí, Brazil is expected to be operational by the fourth quarter of 2019. A new board plant in Sweden is scheduled to start production in mid-2020.
US: IQ Fibers plans to build a cellulose insulation plant at West Easton in Pennsylvania. The project will have an investment from US$5.4m and it will create 43 jobs. The company has received funding from the Department of Community and Economic Development to develop the unit.
“We are extremely proud of our facility and the highly engineered cellulose fibre products we manufacture. With the market demand for more environmentally-friendly solutions, we believe this is the right time and place to launch our company. We greatly appreciate the assistance of the Governor’s Action Team and Governor Wolf’s commitment for business growth,” said George Day, chief executive officer (CEO) of IQ Fibers.
IQ Fibers is a start-up cellulose fibre manufacturer. Its line of products includes high-quality cellulose insulation and absorbents that are sold to distributors, contract installers and end users, as well as government agencies, utility companies, and related programs.
US: Hennecke Group, a manufacturer and supplier of polyurethane processing equipment and plants, has moved its North American headquarters to a new plant in Bridgeville, Pennsylvania. The new headquarters features more office and conference space, a research and development laboratory, a parts warehouse and areas for machinery repair and mixhead rebuilding services.
"This building better represents the innovation and leading polyurethane technology that we provide," said Lutz Heidrich, General Manager of Hennecke. He added that the new plant used some of the materials that its customers produce in its construction. This includes using foil-faced polyiso panel insulation made by Hunter Panels, part of Carlisle Construction Materials.
Hennecke manufactures equipment and supplies plants that make a variety of polyurethane-based products for the construction industries and other sectors. It operates facilities in Italy, Brazil, Mexico, China, Singapore, South Korea, India and Russia.
