Insulation industry news from Global Insulation

US: Stepan has recorded a first-half income before tax of US$63.4m, up by 15% year-on-year from US$55.2m in the first half of 2020. Net sales were US$910m, down by 5.4% year-on-year from US$962m. Polymer sales, which includes sales of Stepan’s rigid foam insulation polyols, fell by 20% to US$112m from US$141m due to lower North American and European demand, “reflecting Covid-19 construction project delays,” according to the company. This was partly offset by increased sales volumes of 41% from its China division.

US: DuPont plans to launch new extruded polystyrene foam insulation products in its Styrofoam brand with reduced global warming potential (GWP) from the start of 2021 to meet its 2030 Sustainability Goals and comply with adopted and upcoming state and provincial hydrofluorocarbon (HFC) regulations throughout the US and Canada. The company also expects a reduction in embodied carbon to be reflected in an updated Environmental Product Declaration (EPD), which will be available with the new products.

"We are taking a thoughtful, phased approach to launching this latest Styrofoam innovation to ensure we are providing a sustainable, code-approved solution that does not sacrifice the performance our customers have come to trust," said Tim Lacey, Global Vice President & General Manager, DuPont Performance Building Solution.

US: Johns Manville (JM) has appointed Bob Wamboldt as its president and chief executive officer (CEO) with effect from 1 September 2020. He succeeds Mary Rhinehart, the company’s current chairman, president and CEO, who will retain the role of chairman.

Wamboldt joined Johns Manville in 2003 and became president of JM’s Insulation Systems business in 2017. He earlier led the Engineered Products North America and Roofing Systems businesses at JM. Wamboldt is also chairman of the North American Insulation Manufacturers Association and previously served as president of the Asphalt Roofing Manufacturers Association. Before joining Johns Manville, Wamboldt worked for 16 years at PPG Industries, where he held a variety of positions in the company’s Fiber Glass and Coatings divisions. He earned a bachelor’s degree in chemistry from Lehigh University.

Greg Clarke will become president of JM’s Insulation Systems business with effect from 1 September 2020. He became JM’s Senior Vice President and chief financial officer (CFO) when he rejoined the company in 2013. In this role, he led JM’s finance organisation, global procurement and logistics operations, and corporate development activities. He previously worked for Johns Manville from 1997 to 2002 and was Vice President and General Manager of the company’s Building Insulation and Commercial & Industrial Insulation divisions.

Before returning to Johns Manville, Clarke was CFO and a director at AeroGrow International, an early-stage consumer products company, and president and CEO at Ankmar, a building products company. Earlier in his career, he held finance leadership and strategic planning roles at PepsiCo and The Coleman Company. Clarke earned a bachelor’s degree in economics from Amherst College and an MBA from Columbia University Graduate School of Business. He serves on the AeroGrow board of directors and is a member of the board of Alumni and Friends of the Leeds School of Business at the University of Colorado.

US: Knauf Insulation North America has partnered with BIMsmith to provide 3D models of its leading insulation products for building product research and selection by architects. The models contain ‘key properties and data’ and integrate with Autodesk Revit building modelling software.

Knauf Insulation North America marketing vice president Linda McGovern said, “BIM is at the forefront of intelligent, sustainable building design. Our investment in BIM paves the way for Knauf to further our impact on the sustainable, energy-efficient construction of the future.”

US: Johns Manville says that it has begun production of a new specially-developed coated polyester spunbond nonwoven fabric for use in Level 3 medical gowns for healthcare professionals fighting the coronavirus outbreak. It is producing the material, called Evalith, at its Spartanburg special applications building materials plant in South Carolina.

Johns Mansville engineered products president John Vasuta said, “Given the urgent need for action, we quickly decided to build on our own capabilities and develop a coated product to supply the domestic medical gown manufacturing industry. The fabric offers superior liquid barrier performance compared to materials used for Level 1 and Level 2 medical gowns, while also providing comfort and stitch-strength.”

US: Germany-based Knauf Insulation has launched an appeal against the decision of a Californian court in a civil dispute over staff pay. The claimants allege that Knauf Insulation has failed to pay overtime wages, meal and rest period premiums and minimum wages. Knauf was also accused of failing to maintain records to provide accurate wage statements. Class Action reporter has reported that case will pass to the US Court of Appeals.

US: Huntsman’s first quarter net income was US$708m in 2020, up by 440% year-on-year from US$131m in 2019. It made sales worth US$1.59bn over the period, down by 4.6% year-on-year from US$1.67bn in the corresponding period of 2019. Polyurethane (PU) insulation sales decreased slightly due to ‘decreased demand across most major markets, partially offset by modest growth in polyisocyanurate (PIR) insulation sales volumes.

Huntsman chair, president and CEO Peter Huntsman said, “We have been well-prepared for this global economic crisis. Our balance sheet is stronger than ever before, with significant cash and robust liquidity. Having learned from prior crises, we pre-emptively reduced unnecessary inventories and are reducing capital spending this year by 30%, or approximately $90m, by delaying discretionary spending.”

US: Owens Corning has recorded a first quarter loss of US$916m in 2020, compared to a US$44.0m profit in the corresponding period of 2019. Net sales were US$1.60bn, down by 4.0% from US$1.67bn. Insulation sales grew by 2.0% to US$603m (38% of net sales) from US$591m. The insulation section’s negative balance of earnings before interest, taxation, depreciation and amortisation (EBITDA) decreased by 71% to US$10.0m US$34.0m.

Owens Corning chairman and CEO Brian Chambers said, “I’m very proud of our team’s strong execution and ability to deliver our first-quarter results in the face of the Covid-19 pandemic. Our long-standing commitment to safety remains at the forefront of everything we do while serving the needs of our customers, our communities, and other key stakeholders.”

US: In 2019 Owens Corning sourced 1.58GWh of energy renewably (49% of total consumption), down by 14% year-on-year from 1.84GWh (52% of consumption) in 2018. Direct CO₂ emissions were 2.78Mt, down by 2.0% from 2.83Mt in 2018 due a reduction in carbon intensity of insulation production, such as the use of electric rather than coke-fired furnaces.

US: Huntsman has repurposed its McIntosh, Alabama high performance and speciality epoxy resins plant for the production of hand sanitizer, which it will supply to health care facilities fighting the coronavirus outbreak across the US. The recipient of its first 5.0t batch was its own Huntsman Cancer Institute at the University of Utah. Huntsman president and CEO Peter Huntsman said, “We thank the Food and Drug Administration (FDA) for moving swiftly to issue the guidelines that have enabled us to fast-track our production and distribution of much-needed hand sanitizer in the US.”