Insulation industry news from Global Insulation

US: Owens Corning has achieved inclusion on the Dow Jones Sustainability World Index 2022, topping the Building Materials category. The producer scored 88 out of 100 for sustainable performance across multiple indices. It recorded full marks for environmental reporting, materiality, recycling strategy, risk and crisis management and social reporting.

Owens Corning's senior vice president and chief sustainability officer David Rabuano said, "Earning placement on this index for the 13th consecutive year is a validation of the daily efforts of our colleagues across our operations globally. I am proud that their hard work and diligence in our sustainability efforts continues to be the driver of our leadership on the Dow Jones Sustainability Index - and an ongoing contributor to achieving our goals for 2030 and beyond."

Russia: Denmark-based Rockwool says that it is entirely out of contact with its Russian business, under on-going EU trade sanctions against the country. As such, the group now views its relationship to its Russian plants merely as an ownership of shares.

EnergiWatch has reported that Saint-Gobain has described a similar situation in relation to its operations in the sanctioned nation. The France-based producer said "The Russian part of our business has lived a self-governing and strangled existence since the start of the invasion. This happened to secure jobs for our employees." It added "We have stopped all investment projects."

Russia: Denmark-based Rockwool says that it is running its four plants in Russia as a standalone operation. However, it is continuing conducting business to avoid the nationalisation of its assets and the loss of its intellectual property. The insulation producer previously said that it had cancelled all investments in the country since the start of the war in Ukraine.

Belgium: Recticel’s insulation business has used price rises to compensate for a steep rise in the price of raw chemical input materials. The division’s sales grew by 57% year-on-year to Euro391m in 2021 from Euro249m in 2020. Its adjusted earnings before taxation, interest, depreciation and amortisation (EBTIDA) more than doubled to Euro62.4m from Euro27.5m. It said that its Insulation and Engineered Foams businesses performed well in a volatile environment. Chemical raw materials supply reportedly remain tight and prices are showing little signs of stabilisation. Transportation and labour costs are increasing at an “unprecedented” rate. However it added that energy cost inflation has a minor impact given the “very low energy intensity of our business.” Overall the group’s sales and adjusted EBITDA rose by 67.4% to Euro1.03bn and by 134% to Euro89.7m.

“We are happy with the very positive sales and profitability development in 2021, a year marked by deep changes in our company. Changes which were planned and announced, such as the acquisition and integration of FoamPartner and the divestment of the Bedding activities. Changes which came as a consequence of the unsolicited takeover bid by Greiner, such as the divestment of our newly created Engineered Foams business segment,” said chief executive officer Olivier Chapelle.

Denmark: Rockwool has signed a new revolving credit facility worth Euro600m. The facility replaced its existing facilities and has a built-in pricing mechanism connecting its costs to three externally-assured sustainability goals. The goals are CO₂ emission reduction, increasing the number of countries in which it offers its recycling schemes and reducing factory waste. The purposes of the facility are to strengthen capital structure and support long-term growth.

Chief Financial Officer Kim Junge Andersen said, “While we already are a net-carbon-negative company, we have committed ourselves to ambitious sustainability targets to reduce our carbon footprint and waste from operations and to expand our recycling offerings. To measure our progress, it is important for us to have a fact-based and auditable approach to how we maximise our products’ positive impact while minimising the environmental impact of our operations.”

Malaysia: Passive fire protection producer Promat and fibre cement boards producer Kalsi, both subsidiaries of Belgium-based Etex, have rebranded as Etex Malaysia. The company says that the name change “reflects Etex's broader commitment to inspire ways of living through innovation.” PR Newswire Asia has reported that by combining its Malaysian subsidiaries under the Etex Malaysia brand the group aims to strengthen its offerings to local and export Association of South East Asian Nations (ASEAN) markets.

US: Hennecke Group, a manufacturer and supplier of polyurethane processing equipment and plants, has moved its North American headquarters to a new plant in Bridgeville, Pennsylvania. The new headquarters features more office and conference space, a research and development laboratory, a parts warehouse and areas for machinery repair and mixhead rebuilding services.

"This building better represents the innovation and leading polyurethane technology that we provide," said Lutz Heidrich, General Manager of Hennecke. He added that the new plant used some of the materials that its customers produce in its construction. This includes using foil-faced polyiso panel insulation made by Hunter Panels, part of Carlisle Construction Materials.

Hennecke manufactures equipment and supplies plants that make a variety of polyurethane-based products for the construction industries and other sectors. It operates facilities in Italy, Brazil, Mexico, China, Singapore, South Korea, India and Russia.