Insulation industry news from Global Insulation

Brazil: Kingspan has acquired a 51% stake of Isoeste Construtivos Isotérmicos (Isoeste). Isoeste, an insulated panel manufacturer, operates from four production sites with approximately 630 employees. No amount for the transaction has been disclosed.

"We are delighted to create this partnership with the founders of Isoeste, the number one player in Brazil's insulated panels market. Together with our recent investments in Colombia and Mexico, this acquisition firmly places Kingspan in a market leading position across Latin America, with a strong platform for further expansion in the region," said Gene Murtagh, Kingspan’s chief executive officer (CEO).

US/Japan: Huntsman Corporation has announced that it has acquired a 20% stake in Nippon Aqua, a spray polyurethane foam (SPF) insulation company based in Yokohama, Japan. The chemical manufacturer has entered into a ten-year supply agreement with the company. The financial terms of the deal were not disclosed.

Nippon Aqua is the SPF market leader in Japan, with business operations in over 30 locations across the country, and is a subsidiary of leading residential home builder Hinokiya Holdings. Huntsman supplies various advanced MDI-based polyurethanes systems to Nippon Aqua.

"Following the regrettable accident at the Fukushima Daiichi nuclear plant in 2011, there's a great focus on how the country will source its energy needs and a growing demand amongst consumers for more effective insulation. Nippon Aqua is well-positioned to satisfy this demand," said Huntsman's president of its polyurethanes division, Anthony P Hankins.