Slovenia/Ireland: The European Commission has fined Kingspan €40m for providing ‘incorrect and misleading information’ during a 2021 review of its now abandoned attempt to acquire Slovenia-based mineral wool sandwich panels and insulation systems producer Trimo. In a press release, the Commission said that the fine comprises €10m for each of four infringements of the EU Merger Regulation. The infringements concerned the availability of bidding data, directors' involvement in the planned acquisition, how the producer tracks penetration rates for mineral fibre sandwich panels and its research and development.

Kingspan said that it will appeal the decision.

Germany: BASF has entered exploratory talks to acquire fellow chemicals company Evonik Industries outright. Evonik Industries’ major shareholder RAG-Stiftung is also partaking in the talks.

India: Saint-Gobain India plans to invest US$1.14bn to ‘triple’ its business by 31 March 2031, the end of its 2031 financial year. The Hindu BusinessLine News has reported that the plan will target acquisitions and include insulation. The producer says that it is positioned to commence exports of stone wool insulation to Australia. Important domestic markets, meanwhile, include Tamil Nadu, where the group has committed to projects worth a total US$560m.

Saint-Gobain Asia-Pacific and India CEO Sreedhar Natarajan said “I am willing to acquire anything meaningful for our organisation.”

Germany: Speciality chemicals company Lanxess has launched Purventis, a range of flame retardants use in insulation production and applications. Plastics Information Europe News has reported that the range’s flagship Purventis Core fire retardant is suitable for use in polyisocyanurate (PIR) and rigid polyurethane (PU) foams. Target applications include closed-cell spray foams, construction panels and roof and wall insulation.