Insulation industry news from Global Insulation

UK: Denmark-based Rockwool has announced plans to replace natural gas used in its Bridgend stone wool insulation plant's combustion systems and curing ovens with green hydrogen produced on-site. Engineering company Marubeni Europower and consultancy Mott MacDonald will also be involved in the project. H2 News has reported that the work will rely on US$462,000 in government funding.

Rockwool's managing director Rafael Rodriguez said “The group has set ambitious decarbonisation targets, verified and approved by the Science Based Target Initiative, and in line with this, we are looking forward to enhancing our own understanding about the potential for green hydrogen use in our business.”

US: Owens Corning recorded sales of US$7.48bn during the first nine months of 2022, up by 17% year-on-year from US$6.37bn in the first nine months of 2021. Its adjusted earnings before interest, taxation, depreciation and amortisation (EBITDA) rose by 24% to US$1.8bn from US$1.45bn. The group's insulation sales rose by 19% to US$2.76bn from US$2.32bn. The segment's higher selling prices reportedly offset accelerating energy, material and transport inflation.

During the year, the company transferred or sold all Russian assets, which had previously contributed US$100m in sales in 2021. Elsewhere, Owens Corning launched three new products during the third quarter of 2022 alone.

Denmark: Sweden-based Indutrade has concluded an agreement to acquire foam producer Bramming Plast-Industri. The parties expect to close the transaction later in 2022.

Bramming Plast-Industri's products include Inotan polyurethane (PU) and polyisocyanurate (PIR) foams and Setex recycled PU granular foam.

Romania: Austria-based Austrotherm has concluded an agreement to acquire 100% ownership of extruded polystyrene (XPS) insulation panels producer Zentyss. Zentyss operates a plant in Arad, Transylvania.

Austrotherm managing director Klaus Haberfellner said "This acquisition increases the security of supply and the range of products for customers in Romania and neighboring countries. The central location of Arad enables the optimisation of transport routes to customers, which means that CO₂ emissions can be massively reduced." He concluded "Our leadership position in XPS in Romania is now well secured. I am particularly pleased to welcome 106 new colleagues to our company."

Belgium: Recticel has joined the Science-Based Targets Initiative, reinforcing its commitment to institutional CO₂ emissions reduction grounded in climate science. Under the commitment, it set two new targets, namely to achieve net zero Scope 1 and 2 CO₂ emissions from its operations by 2030, and to achieve net zero Scope 3 CO₂ emissions by 2050.

The insulation producer said "Recticel looks forward to engaging with all partners in its value chain to join forces and drive progress. Our results against targets will be communicated in the annual report."