Insulation industry news from Global Insulation

UK: Sergei Kolesnikov, president of construction materials producer TekhnoNicol, will acquire Superglass. Kolesnikov has made an offer of US$11.49m for the Scottish glass mineral wool insulation producer via his company Inflection based in Cyprus. The board of directors of Superglass unilaterally recommended approving the purchase proposal. The shareholders who own 63.5% in Superglass have already submitted irrevocable obligations to sell their stakes.

"This transaction and the commercial partnership between Superglass and TekhnoNicol, is a strategic opportunity for all parties, providing TekhnoNicol, with a presence in the UK and Irish insulation markets. We are impressed with Superglass' management team and look forward to working with them," said Sergei Kolesnikov, the sole shareholder of Inflection.

UK: Ken Munro, the chief executive officer of Superglass, has been appointed the chairman of the Mineral Wool Insulation Manufacturers’ Association (MIMA). He replaces David Travill, managing director of Isover Saint Gobain, in the role.

“I would like to thank David for his leadership and contribution, and I am pleased to be assuming the chair at such a critically important time for energy efficiency policy. Investment in the fabric of our homes and in their energy efficiency is good for the economy, increases productivity and attracts investment,” said Munro. “In Scotland, our government has already committed to making the energy efficiency of our homes an infrastructure priority and is supported by the influential Energy & Climate Change Committee, led by Scottish National Party Chair, Angus MacNeil. This is an encouraging position but we would like to see this realised across the United Kingdom.”

Sarah Kostense-Winterton, executive director of MIMA, added that the organisation aims to protect consumers from energy price volatility and from fuel poverty, whilst reducing the UK’s carbon emissions.

UK: Kingspan Insulation will launch four low lambda insulation products for floors, walls and soffits on 1 August 2016.

Kingspan Kooltherm K103 Floorboard, K110 and K110 PLUS Soffit Board and K118 Insulated Plasterboard feature a fibre-free insulation core, enabling them to achieve a thermal conductivity of 0.018W/m.K. The launch of the new products follows the release earlier in 2016 of Kingspan Kooltherm K106 and K108 Cavity Board.

All Kooltherm, Therma and KoolDuct insulation products and cavity closers manufactured at Kingspan Insulation’s facilities in Pembridge and Selby are certified to BES 6001 (Framework Standard for the Responsible Sourcing of Construction Products) ‘Excellent’.

UK: Superglass has appointed Stuart Rowell as its business development director. He will take responsibility for all domestic sales and exports, marketing and commercial strategy, according to the Herald newspaper. Rowell joins Superglass from the Positive Momentum consultancy.

UK: Chris Lea, Finance Director, is to leave Superglass on a date still to be agreed, but no later than 30 June 2016. A search process for a new Finance Director is underway and in the interim period, Lea will continue to be employed on a full-time basis until his effective date of departure is confirmed. Lea joined the Stirling-based company in December 2013. He helped to institute the turnaround strategy and refinancing of the company in October 2014.

UK: SIG’s revenue has fallen by 1.4% year-on-year to Euro3.13bn in 2015 from Euro3.36bn in 2014. Its profit before tax fell by 11.2% to Euro113m from Euro128m. It blamed the fall in revenue on foreign currency effects.

“While making good progress on the Strategic Initiatives and infill acquisition programme, we were disappointed by the Group’s 2015 performance, having been adversely affected by weak trading conditions in Mainland Europe and the UK RMI market, as well as movements in foreign exchange,” said Stuart Mitchell, Chief Executive of SIG.

The building materials producer’s sales revenue for its insulation and energy management division fell by 3.1% to Euro1.49bn from Euro1.54bn. Sales by region increased overall in the UK and Ireland in 2015 due to the new build residential sector in the UK. In mainland Europe sales fell in 2015 notably in France, Germany, Austria and Poland.

In 2015 SIG acquired Multijoint SA in Switzerland and Ainsworth Group in the UK. Both companies are distributors of insulation and associated materials.

UK: Superglass has reported that its sales volumes have fallen by 2% in the half year to the end of February 2016. No exact figures were provided in the trading statement. Selling prices have increased by 4% year-on-year in the period due to a reduction in production capacity. Its expected unaudited earnings before interest, taxes, depreciation and amortisation (EBITDA) loss was approximately Euro0.65m, an improvement of Euro1.81m from the prior year.

The mineral wool producer also reported that its new blowing wool solution for new build housing, Superwhite 34, has gained ‘traction’ in the market. A number of national and regional contractors stock and install the British Board of Agrément certified product.

UK: Kingspan has reported that its revenue rose by 47% year-on-year to Euro2.77bn in 2015 from Euro1.89bn in 2014. Its profit after tax rose by 79% to Euro191m from Euro107m. It attributed the result to ‘strong’ organic growth in the UK, North America, Turkey and the Middle East, more than offsetting losses in some European markets and in Australasia.

“We are delighted to report a record performance for the group in 2015 and a strong start to 2016. The two major acquisitions completed last year have performed ahead of our expectations, with Joris Ide and Vicwest significantly expanding our presence in Continental Europe and North America respectively,” said Gene Murtagh, Chief Executive of Kingspan.

UK: Celotex has launched a new range of flat roofing insulation solutions. It comprises three products: Celotex Crown-Bond, Crown-Up and Crown-Fix. The products were developed with contractors, installers and distributors, following an 18-month testing period.

“The new product range from Celotex perfectly demonstrates the commitment that British Rigid Urethane Foam Manufacturer’s Association (BRUFMA) members have to improving product quality and driving up standards for insulation in the UK,” said Mel Price, Assistant Chief Executive of BRUFMA.

BRUFMA represents most of the major companies in the Polyisocyanurate (PIR) and polyurethane (PUR) industry in the UK, including manufacturers of finished products, suppliers of the various raw materials and associated services.

UK: Superglass has appointed Jan Holmstrom to its board. Holmstrom, aged 63 and a Swedish national, will represent Superglass's majority shareholder Peter Gyllenhammar as non-executive director, according to the Herald. Gyllenhammar owns 38.3% of the shares in Superglass.