Insulation industry news from Global Insulation

Norway: Bewi’s shareholders have voted in favour of the company’s acquisition of the remaining 50% of Jackon Holding in order to become sole owner. Bewi will hold an extraordinary general meeting following the completion of due diligence checks to authorise the issuance of Bewi shares as consideration for the deal to Jackon Holdings’ controlling shareholder Haas.

Russia: TechnoNicol plans to carry out an upgrade at its Khabarovsk basalt mineral wool insulation plant. The planned project will fully automate production at the plant and double its capacity. The producer expects the upgrade to improve safety, sustainability and product quality.

Uzbekistan: The European Bank for Reconstruction and Development has issued a US$5m loan to Ecoclimat Group for the launch of a new subsidiary, Angren Insulation. The company will use the loan to build a 32,000t/yr glasswool plant in Tashkent. The plant will use recycled glass as an input and reduce the group’s CO₂ emissions by 85,000t/yr. The insulation producer said that it will help it to meet the growing local demand for mineral-based insulation.

Russia: Rockwool plans to install a new mineral wool production line at its Vyborg insulation plant in Leningrad oblast. The producer says that the expanded plant will have 50% lower CO₂ emissions than before the expansion due to an efficiency increasing upgrade to its melting technology.

Rockwool plans to invest Euro200m in expansions and efficiency improving upgrades in Russia ‘in the coming years,’ creating 70 new jobs.

US: Ireland-based Kingspan has acquired Minnesota Diversified Products, the producer of the DiversiFoam range of expanded polystyrene (EPS) and extruded polystyrene (XPS) foam and polyisocyanurate (PIR) foam billets. The group says that DiversiFoam will join Kingspan Insulation’s North American division and become a key proponent of its 10-year sustainability programme, Planet Passionate. It plans to expand the company’s Rockford EPS foam plastic recycling plant. Minnesota Diversified Products is committed to recycling 99% of production waste.

Managing Director Doug Crawford said "DiversiFoam and Kingspan are a natural fit from a geographic, technical and cultural perspective. The combination of these two outstanding businesses, coupled with Kingspan’s commitment to further investment will provide our collective customer base, our employees and our business partners with significant value. I am thrilled to welcome the DiversiFoam team into the Kingspan family.”