Insulation industry news from Global Insulation

Russia: The net 2011 first-half profit of OJSC Balakovorezinotekhnika, which makes a number of plastic-derived technical goods including vibration-dampening insulation and pipe-lagging was USD2.3m against a loss of USD3.52m for the same period of 2010. Its revenue increased by 43% to USD98.4m from USD68.8m and its profit due to sales was USD1.77m against a sales loss of USD1.96m in the first half of 2010.

Kazakhstan: A new Vodokanalstroy Company mineral wool plant has started operation in the city of Karaganda in Karaganda region as part of the Business Roadmap-2020 programme.

The executive director of the company, Mikhail Lashkov, said, "The project cost USD11.2m. The sources of financing were our own funds, accounting for USD7.6m and a loan of USD3.7m borrowed at an interest rate of 7%/yr."

According to Lashkov, the production capacity of the plant is 85,000m3/yr of thermal insulation material. "The main product of the plant are mineral wool slabs with Misot synthetic binding agent," he added. The raw materials for the products are sourced from ArcelorMittal Temirtau.

"There is a huge demand for heat insulation materials in Kazakhstan and 85% of such products are imported. Now the imports can be reduced," said Lashkov.

New Zealand: EnergySmart, a major partner in the New Zealand government's home insulation scheme, has been placed into liquidation. The company owes a reported USD780,000 in outstanding unpaid invoices.

EnergySmart has offices across New Zealand and is one of the Warm Up New Zealand scheme's larger providers, having carried out 5% of 115,000 home insulation retrofits across the country since the scheme began in 2009. The company's turnover in 2009-10 was USD11m, but it made a loss of USD590,000. Mike Underhill, chief executive of the Energy Efficiency and Conservation Authority, which runs the USD270m scheme, said he was 'appalled'.

EnergySmart was sold by its founders, Peter and Robyn McKeown, for USD390,000 in 2006. After trying to attract a commercial buyer, the company was acquired by the Hutt-Mana Charitable Trust, who injected USD590,000 in 2009.

China: China is to allot USD265m to eliminate the use of hydrochlorofluorocarbons (HCFCs) according to a Ministry of Environmental Protection announcement. The country is the world's largest producer and consumer of the ozone-layer destroying chemicals, which are still routinely used in the developing world for a variety of uses, including thermal insulation materials.

As a developing country, by 1 January 2013 China is required to keep the production and use of HCFCs at a level equal to the average amount seen in 2009 and 2010. By 2015, the amount should be reduced to 90% of that seen in 2013. By 2030 their routine use should be given-up entirely, save for specific limited purposes such as maintenance.

US: For the second year in a row, Owens Corning has earned placement on the Dow Jones Sustainability World Index (DJSI World) in recognition of its sustainability initiatives. Composed of global sustainability leaders, the DJSI World Index is an elite listing of the top 10% of the world's 2500 largest companies based on long-term economic, environmental and social criteria.

"We are extremely proud to have again earned placement in the DJSI World Index," said Owens Corning Chief Sustainability Officer Frank O'Brien-Bernini. "Owens Corning is committed to balancing economic growth with social progress and environmental stewardship as we deliver sustainable solutions to our building materials and composites customers around the world. To this end, we have adopted an increasingly holistic approach that impacts our operations, our products and how we work with our customers and suppliers to deliver sustainable solutions."

The DJSI follows a best-in-class approach and includes sustainability leaders from industries worldwide, serving as an important guide for investors to assess a company's sustainability portfolio. Selection to the DJSI is based on an in-depth analysis of a company's economic, environmental and social aspects with a focus on long-term development of corporate value.