Insulation industry news from Global Insulation

US: Owens Corning has appointed Prith Gandhi its chief financial officer (CFO). He will take over from Michael McMurray on 23 October 2019, and serve until an external search produces a permanent successor. Gandhi, current vice president of corporate strategy, has 25 years’ financial services experience. The company announces its third quarter results for 2019 on 23 October 2019.

UK: Kingspan has reported 7% year-on-year growth in its third-quarter 2014 revenue, partly due to an upturn in the UK property market. It now expects to deliver a full-year trading profit in the region of Euro144m, up by 17% from the year ago period. Net debt at the end of September 2014 was Euro39.1m lower than at the same point in 2013, at Euro108m.

Sweden: ECO Byggolit, a Swedish producer of expanded polystyrene (EPS) foam, has applied for corporate reconstruction due to reduced demand from the construction industry. The company, which was established in 2009, has 13 employees and annual sales of Euro6.73m. The company's products are mainly used for insulation of buildings and as a filler in roads.