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News Displaying items by tag: UK

Insulation industry news from Global Insulation

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SIG revenue falls by 1.4% to Euro3.13bn in 2015

14 March 2016

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.

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Superglass sales volumes down by 2% in half-year to February 2016

14 March 2016

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.

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Kingspan revenue grows by 47% to Euro2.77bn in 2015

25 February 2016

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.

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Celotex launches new range of flat roofing insulation

17 February 2016

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.

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Jan Holmstrom appointed to board of Superglass

02 February 2016

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.

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Fire at Knauf Cwmbran insulation plant damages 24t of material

12 January 2016

UK: Around 24t of insulation material was damaged in an overnight after a fire at Knauf Insulation factory in Croesyceiliog, Wales. Three crews of firefighters were called to the fire at 01:22. A spokeswoman for the fire service said the blaze was accidentally caused. The firefighters had put the fire out by 03:31.

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Charterhouse to sell Armacell for Euro960m

01 December 2015

UK/Germany: UK-based private equity firm Charterhouse Capital Partners LLP has agreed to divest Armacell International SA in a deal that values the German insulation materials firm at Euro960m, according to Reuters. Charterhouse, which paid Euro520m for Armacell in 2013, will sell it to private equity funds managed by US Blackstone Group LP. The transaction is scheduled to close in the first quarter of 2016. Armacell reported net sales of Euro452m in 2014.

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Superglass loss grows to Euro13.4m for 2015 financial year

19 November 2015

UK: Superglass has reported a growing loss before taxation of Euro13.4m for its 2015 financial year that ended in 31 August 2015. Alongside this a fall in revenue of 11% year-on-year to Euro29.8m was noted. The drop was blamed on a planned reduction in Eastern European exports and a further deterioration in activity from government-sponsored schemes.

The UK-based glass wool manufacturer also confirmed Mark Cubitt as its chairman on a permanent basis. Cubitt was appointed interim chairman on 19 June 2015 following the resignation of John Colley.

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Celotex launches new ‘Insulating Scotland’ campaign

17 September 2015

UK: Insulation specialist Celotex is set to launch its 'Insulating Scotland' campaign on 28 September 2015 when the company's custom designed campervan begins a Scotland roadshow.

Aiming to educate architects, contractors and their distribution partners to simplify their route to regulatory compliance, the 'Insulating Scotland' campaign will see Celotex travel around Scotland to deliver a series of technical clinics.

"Our 'Insulating Scotland' campaign will ensure that industry professionals across Scotland can easily access all they need to know about the new Section 6 Building Regulations," said Paul Evans, head of marketing at Celotex. "With further reductions in CO2 emissions required for Scotland, Celotex product and service solutions will continue to help simplify compliance to these new levels."

The two-week roadshow will see the Celotex team travelling to a number of locations across Scotland. To minimise the environmental impact, Celotex has implemented a series of initiatives to offset more CO2 emissions than released, ensuring the campervan tour is carbon positive.

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Entu UK’s pre-tax profit falls in the first half of 2015

22 July 2015

UK: Energy efficiency products group entu UK has reported a fall in its interim pre-tax profit amid weakness in insulation and solar power products, but said that it is on target to meet full year expectations, according to Dow Jones. Pre-tax profit for the six months fell to Euro5.42m from Euro7.99m in the same period of 2014, as revenues fell to Euro75.5m from Euro80m.

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