Insulation industry news from Global Insulation

US: USI, a national provider of installed insulation and related services to builders, contractors and homeowners, has announced the acquisition of Cardalls Insulation, a Utah-based full-line insulation services contractor.

Founded in 2001 by Joe Cardall, family-run Cardalls Insulation has shown steady growth and employs approximately 125 personnel across four offices. After closing, Joe Cardall will become branch manager.

"We are excited to increase our service presence in Utah and Idaho with this acquisition," said L W Varner Jr, president and CEO of USI. "The prospect of bringing Cardalls' expertise, valued people and assets to USI is a significant opportunity for us. We expect a smooth transition and enhanced value for both our current and future customers." Varner added that USI's in Utah and Idaho is indicative of the future growth prospects of commercial and residential construction in the region.

US: Alan Dibble Booth, a long-time Owens Corning executive, died on 18 February 2015 in Casa de la Luz Hospice, Tucson. He was 71. Booth, who had lived nearly year-round in Tuscon, died from complications of lung cancer, according to his daughter, Katie Booth.

Booth was employed by Owens Corning in Toledo for 31 years, starting as a sales trainee in 1967 and worked his way through the ranks to vice president of marketing and sales in manufacturer and mechanical products in 1986. He retired as head of the insulation division for North America.

Ireland: Kingspan has reported a rise in its full year pre-tax profit as strength in the UK and North America lifted its revenue. The pre-tax profit in 2014 rose to Euro128m from Euro102m in 2013. Its 2014 revenue rose to Euro1.9bn, up from Euro1.8bn in 2013.

Denmark: Rockwool has said that its results for 2014 were negatively affected by the devaluation of the Russian Rouble and that Russia will continue to impact its results for some time to come. Its turnover, however, increased by 9% year-on-year to Euro2.18bn, whereas earnings before interest and taxes (EBIT) fell by 4% to Euro161m. Post-tax profit decreased to Euro112m from Euro116m in 2013. Rockwool expects its net sales growth in 2015 to be slightly positive and EBIT to reach around Euro150m.

Belgium: Kingspan has acquired full control of the industrial insulation products joint venture that it shares with Belgium's Recticel. Previously, the two groups each owned 50% of Kingspan Tarec Industrial Insulation (KTII). Kingspan has now taken full control of KTII via an estimated Euro8.5m purchase.

Kingspan and Recticel launched their joint venture in 2006, combining their respective industrial insulation businesses in the process. KTII is a niche operator, producing premium performance pipe insulation products for petrochemical operations and the cool truck industry. The business had revenues of around Euro31m in 2014.