Insulation industry news from Global Insulation

UK: AMA Research has recorded a 16% year-on-year decline in UK insulation demand to Euro1.62bn in 2020 from Euro1.93bn in 2019. The researcher forecast a 3% year-on-year decline in 2021 to Euro1.57m. It said the demand would not recover 2019 levels before 2025. In the three years after 2021, the predicted annual growth rate is 4 - 6%.

Luxembourg: Armacell recorded consolidated net sales of Euro591m in 2020, down by 8% year-on-year from Euro644m in 2019. Its earnings before interest, taxation, depreciation and amortisation (EBITDA) fell by 10% to Euro120m from Euro134m. During the year, the company completed a polyethylene terephthalate (PET) foaming line expansion in Suzhou, China, built an elastometric foams plant in Cheonan, South Korea and consolidated its Italian insulation activities at a new facility in Turin. It also made strategic investments in diversified areas.

President and chief executive officer Patrick Mathieu said, “In a complex and challenging environment our business model again proved resilient. With our global reach and multi-segment activity, we ended the year in relatively good shape. We took the appropriate measures to navigate changing circumstances and ensure we come out of the pandemic stronger than before. Our utmost priority was always to safeguard the health of our employees, maintain operations and continuously support our customers.” He added, “After the successful closure of our capital market refinancing in February 2020, our shareholders PAI Partners and KIRKBI expressed their commitment to our on-going growth strategy. In 2021, we look forward to partnering with our customers in adding value to their businesses.”

Spain: Knauf Insulation Iberia has launched a building design competition across Spanish universities and schools. Called Race to Zero, the competition will assess applicants’ designs for energy efficiency, innovation and residential sustainability. The best submission across all three categories will win its designer Euro15,000. The company will additionally invite the winner and runners up for practical training at its headquarters. The submission deadline is 28 May 2021.

General Director Oscar del Rio said, “This contest was born with the vocation of putting the building in its rightful place in the field of sustainability, given the importance it has for the fulfilment of the Sustainable Development Goals according to our company's ‘For A Better World’ strategy.”

Poland: Belgium-based Recticel has signed a preliminary agreement with Poland-based insulation company Gór-Stal. Under the agreement, the producer will acquire the company’s polyisocyanurate (PIR) insulation business for Euro30.0m. The company employs 66 people at its Bochnia plant in Lesser Poland Province. In 2020 it generated net sales Euro16.7m and earnings before interest, taxation, depreciation and amortisation (EBITDA) of Euro2.50m. Its capacity utilisation rate was 40%.

Chief executive officer Olivier Chapelle said, “The acquisition of the Gór-Stal PIR-based insulation board activities marks an important step in the development of our insulation business. This acquisition perfectly fits our ambition to further expand in the growing thermal insulation markets of Central and Eastern Europe. It meets three fundamental prerequisites: a state-of-the-art asset, a perfect geographical complementarily, and a focus on high performance PIR insulation solutions. We look forward to welcoming our new and highly skilled colleagues from Gór-Stal.”

Recticel expect to close the deal in July 2021.

US: The National Insulation Association (NIA) has named three insulation producers as winners of its 2021 Premier Industry Manufacturer award. Armacell, Johns Manville and Owens Corning won the nationwide award. The association’s Platinum Safety Excellence awards were presented to six insulation producers: Armacell, CertainTeed Corporation, Dyplast Products, Johns Manville, Owens Corning and Canada-based Rockwool Technical Insulation. The award is the highest category of safety excellence award at the association’s National Insulation Association Awards 2021. It awarded Proto Corporation a gold Safety Excellence award.

Executive vice president and chief executive officer Michele Jones said, “Each year, we honour our member companies that prioritise safety and make continuous improvements to their programmes, and this year we do so knowing that a strong and well communicated safety programme is more important than ever.”

The association handed over the awards virtually at its Spring Summit in mid-March 2021.