Insulation industry news from Global Insulation

US: Kingspan Insulation has expanded its GreenGuard extruded polystyrene (XPS) insulation board range with additional thickness products and strengths. The range now includes 3 inches and 4 inches in select 25, 40 and 60 psi compressive strength boards, and a new four-sided routed drainage channel board. The new products are intended to extend the GreenGuard line into roofing, cold storage, and various below grade and vertical wall applications markets.

US: New board members have taken posts at the Reflective Insulation Manufacturers Association (RIMA) International for 2018. Doug Kinninger of Fi-Foil Company becomes the new president, Sergio Luconi of Prodex has become the vice-president and Wes Hall of Reflectix remains as secretary and treasurer. Mike Boulding of Mitex International has also joined as a director.

US: Michael Darr has been appointed as the operations manager of Firestone Building Products’ plant in Waukesha, Wisconsin. He previously worked as the plant manager for Bridgestone’s tyre plant in Wilson, North Carolina, according to the Wilson Daily Times newspaper. Firestone, a subsidiary of Bridgestone, purchased Gaco Western, a producer of insulation and roofing products, in April 2017 including the Waukesha site.

US: Johns Manville has issued information about an upgrade to the furnace of its Waterville plant in Ohio that took place in the summer of 2017. The work re-started the plant’s furnace and increased its production capacity. The site produces a range of engineered products, such as continuous glass fibres for insulation, composites, building materials and engineered thermoplastic market.

US: Several of Owens Corning’s Thermafiber mineral wool insulation products and their supporting design and installation services have earned Safety Act Designation from the US Department of Homeland Security. The purpose of the act is to ensure the threat of liability doesn’t prevent companies from developing and commercialising products that could save lives in the event of an act of terrorism. It restricts liability where qualified anti-terrorism technologies, or QATTs, have been used.

“Owens Corning is the first insulation manufacturer to be listed publicly with the Department of Homeland Security as having qualified technology carrying the Safety Act Designation,” said Julian Francis, president, Insulation Business.

The designation covers a variety of Thermafiber products in perimeter fire barrier system, interior wall and floor ceiling systems, construction joint firestopping system and penetration firestopping system applications.

US: Three types of commercial and residential insulation produced by Owens Corning have been certified as made with renewable energy. These products represent the first ever to have met the requirements of SCS Global Services’ certification protocol to validate electricity used to make them is generated entirely from wind.

This certification follows a power purchase agreements Owens Corning signed in 2015 that enabled new wind capacity in Texas and Oklahoma. Both wind farms came online in late 2016 and can generate 1.1MWh/yr of electricity. For every MWh of renewable electricity generated, the company receives one Renewable Energy Credit (REC). It then applies the RECs toward the manufacture of more sustainable products.

“Reducing the embodied carbon in building products has long been a discussion across the building industry,” said Frank O’Brien-Bernini, Owens Corning vice president and chief sustainability officer. “We’re excited to see it come to life through certified products made with renewable energy and reduced embodied carbon.

The three types of insulation available with the wind power certification are EcoTouch Insulation, Thermafiber RainBarrier Continuous Insulation and Unbonded Loosefill Insulation.

US/Finland: Owens Corning has signed an agreement with CVC Capital Partners to acquire Paroc Group for Euro900m. The sale, which is subject to regulatory approvals and other customary conditions, is anticipated to close in early 2018. The company plans to finance the acquisition through a combination of long-term debt and pre-payable bank financings.

“The acquisition of Paroc delivers on Owens Corning’s strategy to provide our customers with a portfolio of insulation products that cover the full temperature spectrum in the three largest insulation markets – Europe, North America and China. Over its 80-year history, Paroc has earned a reputation for high-quality products and technical expertise,” said Owens Corning chairman and chief executive officer Mike Thaman.

The acquisition of Paroc is expected to expand Owens Corning’s mineral wool technology, grow its presence in the European insulation market, provide access to a variety of new end-use markets and will increase the company’s sales mix of the insulation business outside the US and Canada to 35%.

Paroc is a European manufacturer of mineral wool insulation solutions for a variety of end markets. Paroc manufactures building insulation for thermal, fire and acoustic applications in residential and commercial construction. The company also manufactures technical insulation for HVAC (heating, ventilation, and air conditioning) systems, industrial processes and the marine, offshore and original equipment manufacturer industries. It employs over 1800 people in 13 countries and operates facilities in Finland, Lithuania, Poland, Russia and Sweden.

US: Growth in insulation sales revenue and earnings have contributed to Owens Corning’s overall growth so far in 2017. Net sales from its insulation business grew by 10% year-on-year to US$1.41bn in the first nine months of 2017 from US$1.28bn in the same period in 2016. Its earnings before interest and taxation (EBIT) grew by 7% to US$98m. The group’s overall net sales rose by 11% to US$4.78bn.

“Owens Corning delivered another strong quarter, despite some isolated market challenges. We remain confident in our ability to finish the year with strong financial performance,” said chairman and chief executive officer (CEO) Mike Thaman. He added that the company was ‘particularly’ pleased with the contribution of the newly acquired Foamglas business within its insulation business.

In its insulation business, EBIT grew due to higher prices and sales volumes. US volume growth slowed in September 2017 but the company said the segment was experiencing a recovery so far in the fourth quarter of 2017.

US: Canada’s Icynene has offered to buy Houston-based Lapolla Industries for US$160m. Under the terms of the merger agreement Icynene will acquire all the outstanding shares of Lapolla. The acquisition is subject to customary closing conditions, including receipt of regulatory approvals. Both companies produce polyurethane spray foam (SPF) insulation products.

"Icynene is thrilled to partner with Doug Kramer, the President and chief executive officer (CEO) of Lapolla, and his team as Icynene and Lapolla combine businesses to create an innovative leader in high yield SPF manufacturing and distribution," said Mark Sarvary, CEO of Icynene.

US: Israel Chemicals Limited (ICL) is preparing a new flame retardant for use in rigid polyurethane foams. Executives at ICL made the announcement at the Polyurethanes Technical Conference in New Orleans, according to ICIS. VeriQuel R100 is a non-halogenated reactive flame retardant intended to replace tris (chloroisopropyl) phosphate (TCPP) in case of any changes to existing government regulations. The new product will be targeted at building and construction applications.