Insulation industry news from Global Insulation

Italy: Ursa has launched a new extruded polystyrene (XPS) panel product called Ursa Maior. The insulation producer says that the product, Ursa Maior S27P, is the first and only extruded polystyrene thermal insulation panel that combines a thermal conductivity rate of 0.027W/mK with high compressive strength of 300kPa. Other features include water resistance and resilience to freeze and thaw cycles. It is being produced at Ursa’s Bondeno plant.

Germany: Xella International has announced changes to the management of its subsidiary Ursa. Jochen Friedrichs has been appointed as the chief executive officer (CEO) of its subsidiary Ursa. He will also join the Xella Group Executive Committee. Xella said Friedrichs was responsible for the acquisition of Ursa on the Xella side of and therefore holds ‘detailed’ knowledge of both Ursa and Xella.

Other appointments include the assignment of Björn Baum as the Chief Technology Officer (CTO) of Ursa. He will also remain as the Head of Xella Group’s Energy Management. Joaquín Lozano Agramunt will retain his position of Chief Financial Officer (CFO) at Ursa. In addition, Ana Lluch Martinez, Chief Legal and HR, and Gonzalo de las Alas-Pumariño, Head of Technology and Projects, will become members of the Ursa Executive Committee.

Xella International announced that it was buying Spain’s Ursa in August 2017. The European Commission approved the acquisition of the insulation producer by Xella in October 2017. The acquisition is expected to compete by the end of 2017.

Europe/Spain: The European Commission has approved, under the European Union (EU) merger regulation, the acquisition of Spanish insulation producer URSA by Germany’s Xella. The commission concluded that the acquisition would raise no competition concerns because of the limited overlaps between the activities of the companies. The deal was first announced in August 2017 and it is expected to be completed by the end of 2017.

Spain: Spanish insulation firm URSA is to be sold by investment firm KKR to Germany’s Xella International GmbH. The sale is subject to the approval of the relevant competition authorities and is expected to be closed by the end of 2017. No value for the deal has been disclosed to date.

“We are looking forward to becoming part of the Xella Group,” said URSA CEO Pepyn Dindant. “Xella is a very successful company in the building materials industry and deeply understands our markets, customer needs and products. This will give us important impulses for our profitable growth strategy that we will keep on implementing with high priority and strong client focus.”

“Especially in recent years, URSA has delivered outstanding performance,” said Dr Jochen Fabritus, CEO of Xella Group. “We highly appreciate what URSA’s executives and employees have achieved and are looking forward to welcoming them as part of the Xella family. Consequently, URSA will become an independent business unit to continue its successful development. Xella will support URSA with all measures that are appropriate to achieve further profitable growth.”

Xella says that, while URSA will operate as an independent business unit focused on the specific needs of its clients in the insulation sector, there are various areas in which both companies will benefit from each other. URSA completes Xella’s portfolio of mineral-based building materials, creating opportunities to combine products of the new brand into innovative solutions. Also, in terms of size, geographical spread and management structure, URSA is very similar to Xella’s existing business units, allowing for a fast and smooth integration process.

Belgium: Ursa’s plant in Desselgem has gained ISO 140001 certification for the design, production and sales of glass wool insulation. The international standard specifies all the necessary requirements to establish an Environmental Management System, which will aid the environmental performance of the company. In addition the certification allows the company’s products to be sold more easily in the UK as they can now be readily specified in buildings being assessed under BREEAM, the Building Research Establishment Environmental Assessment Method.

Spain: Uralita has appointed Javier Gonzalez as its new CEO after former CEO Javier Serratosa stepped down as a result of a debt refinancing agreement.

The refinancing contract granted private equity company KKR Fund control over the majority of the capital of Uralita's insulation subsidiary Ursa, which generated approximately 70% of the company's consolidated revenue in 2014. Serratosa, who continues to maintain a stake in Uralita, will thus assume the presidency of Ursa, in which Uralita will continue to hold a 10% stake. Uralita additionally reinforced its executive team through the appointment of Gonzalo Serratosa as vice president.