Insulation industry news from Global Insulation

US: Owens Corning Insulating Systems LLC has announced plans to produce fibreglass insulation with an all-service jacket for Aquatherm metric-sized polypropylene-random (PP-R) piping systems as part of an exclusive agreement with Aquatherm North America.

China: China Magnesium Corporation Ltd (CMC) has executed and commenced a cooperation agreement with Pingyao County Fengyan Mineral Wool Co Ltd (FMW), effective from 1 February 2015. The effect of the agreement is that CMC will have a 60% economic interest in FMW, control a majority of the FMW board seats and be responsible for the management of FMW's business.

FMW is an established and profitable medium-sized metallurgy company based in Pingyao, Shanxi Province. It is a wholly-owned subsidiary of Fengyan Coal & Coke Group Company Ltd. FMW can produce 150,000t/yr of ferronickel and uses the waste slag from the ferronickel production to produce mineral wool and mineral wool acoustic board products, among other industrial products. It currently purchases all of CMC's semi-coke to use in its ferronickel production. Any external ferronickel requirements in respect of CMC's recycling and production are also currently supplied to CMC by FMW.

US: Stepan plans to sell its speciality polyurethanes business to J6 Polymers. In 2014, the business generated sales of US$2.8bn. Stepan expects to make US$2.5 - 2.8m from the deal.
The sale includes intellectual property, formulations and production units, as well as client and supplier lists. Stepan makes polyurethanes at its plant in Millsdale, Illinois. It also uses custom manufacturers. Stepan will continue making polyurethanes on J6 Polymers' behalf at its Millsdale plant during the transition period. Stepan's polyurethanes are used in thermal insulation, coatings, adhesives, insulation materials and elastomers.

UK: Kingspan Group has agreed with Ergon Capital Partners II NV and Bremhove NV to acquire Steel Partners NV, a holding company of the Joris Ide Group. Joris Ide is a pan-European manufacturer and supplier of insulated panels, profiles and related accessories, with leading market positions in France, Belgium, the Netherlands and Luxembourg.

The acquisition will cost Euro315m, inclusive of debt. It will be satisfied on completion partly in cash and by the assumption of debt, with the balance of the consideration satisfied by the issue of three million shares in Kingspan Group to Bremhove NV, which is the holding company of the founder and major shareholder Joris Ide.

UK: The British Rigid Urethane Foam Manufacturer's Association (BRUFMA) has announced the appointment of Chris Hall as Chief Executive Officer. He took up the post on 5 January 2015.

With a career in the construction industry that spans more than 30 years, including two senior posts with BRUFMA members Recticel and Quinntherm, Hall brings a wealth of expertise and experience to the organisation. He will be tasked with developing a climate in which all members can flourish and benefit from the activities of the association.

Commenting on his appointment, Hall said, "I'm tremendously pleased to have been appointed as CEO at BRUFMA. I look forward to developing the association and enforcing it as an organisation that peers respect and that members feel is a worthwhile investment in both funds and resources."