Germany: Suitors of the German insulation materials maker Armacell GmbH are poised to make second-round offers below the Euro500m price tag sought by its owner, Bahrain's Investcorp, according to Reuters.

The second round deadline was pushed back from 11 March 2013 as private equity firms Charterhouse, Pamplona Capital Management LLP and HgCapital were set to bid closer to Euro500m, according to bankers that spoke to the agency. The lower bids would reflect growth concerns regarding the target, whose sales amounted to Euro448m in 2011. There are even concerns that the deal, which is being handled by Barclays plc, could be cancelled completely if a reasonable valuation cannot be reached.

UK: Superglass Holdings PLC (SPGH.LN), an independent UK manufacturer of glass wool and mineral fibre insulation solutions, has said that current trading conditions continue to be extremely challenging and it plans to explore options to strengthen the company's balance sheet, including a further equity issue.

Superglass said that the company continues to operate within the terms of its bank facilities and its bankers continue to be supportive. However, debt amortisation payments are due to resume in November 2013 and Superglass is scheduled to repay Euro9.5m of debt over the three years to November 2016. It warned that, as long as market conditions remain as they are now, these debt service obligations will become unsustainable.

Superglass said that the delays in the recent transition from CERT standards to the new Green Deal framework had caused a major gap in activity within the retrofit market for both loft and cavity insulation. This, combined with abnormally low levels of housebuilding activity in the UK by historical standards, has caused a surplus of UK insulation capacity and highly competitive market conditions. This, Superglass said that this was detrimentally impacting the company's operating profit and cashflow.

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.

Ireland: Insulation and building supplies manufacturer Kingspan has reported that its operating profit grew by 15% in 2012 to Euro105m from Euro90.9m in 2011. Revenue for the year rose by 55% to Euro1.63bn.

Kingspan reported strong overall performance in insulated panels with sales revenues up by 11%, particularly strong in Germany, Canada and Australia. The company reported 'robust' performance in insulation boards where revenues were up 2%, stable in the UK and slightly up in Continental Europe.

"We are pleased to report another positive year of progress for Kingspan, one in which we continued to increase our profitability, generate strong cash flows and widen our global footprint," said Kingspan's chief executive Gene Murtagh.