Insulation industry news from Global Insulation

Lithuania: Russia-based TechnoNicol has divested its Baltic roofing and waterproofing membranes business, Mida, to France-based Soprema. The business includes plants in Lithuania. TechnoNicol acquired Mida in 2001. BNS News has reported that its sales dropped by 17% to €38m in 2023, following the Russian invasion of Ukraine.

Mida said "Mida has completely cut off all ties with its former owner, Technonicol. Mida is beginning a new stage in the growth of its business in Europe."

US: Knauf Insulation has secured US$3.28m in funding from the Environmental Protection Agency (EPA) to develop and verify Environmental Product Declarations (EPDs) for insulation. Knauf Insulation will produce the EPDs based on comprehensive Life Cycle Assessments of its products.

Knauf North America director of sustainability Gabriela Fleury said "Transparency is embedded in our core values and a key component of our business conduct. It is imperative that our product documentation provides accurate, reliable and updated information to our stakeholders. This grant will leverage the development and improvement of EPDs, which not only allows clients to make informed decisions about lower embodied carbon products, but also indicate areas of improvement to lower greenhouse gas emissions throughout our operations. This grant represents a significant sustainability leap for all of our stakeholders. It enables us to enhance our EPD portfolio, meeting increasing market demands for product transparency."

New Zealand: Fletcher Building has appointed Tony Dragicevich as a non-executive director and member of its board of directors, effective from 1 August 2024. Dragicevich previously served as managing director and CEO of aluminium producer Capral, and has held leadership positions at Wattyl Group, GWA Bathrooms and Kitchens, Red Paper Group and Carter Holt Harvey Insulation. He holds a commerce degree from the University of Auckland.

Acting chair Barbara Chapman said "Tony is a highly accomplished CEO and director who brings significant experience in leading distribution and manufacturing businesses across Australia and New Zealand. His successful career in the building products sector, combined with his strong track record of delivering value for shareholders, make him an excellent addition to Fletcher Building's Board."

Saudi Arabia: Foam pipe insulation producer Perma-Pipe International Holdings has secured contracts worth US$10m for major infrastructure projects in Madinah, Makkah and Riyadh. Perma-Pipe International Holdings will deliver pipes fitted with its Xtru-Therm polyurethane (PU) spray foam insulation systems. Some of the deliveries will be served by the company’s upcoming Madinah plant, scheduled for commissioning in August 2024.

President and CEO David Mansfield said "Our new investment in Madinah further supports our growth plans and the Kingdom's 2030 vision. We are extremely proud to be playing our part to realise this vision. It has been very encouraging to see the development of strong leadership and a passion for high levels of customer service which has resulted in these accomplishments, enabling Perma-Pipe to go from strength-to-strength."

Germany: Insulation installation start-up Varm has secured €5.7m in seed funding to expand its operations across Europe. The round was led by Emerge and Pale Blue Dot, with contributions from Noa, Foundamental and previous investors.

CEO Christian Gruener said “We are building a scalable infrastructure for insulation. This funding will help us expand and innovate, making insulation more accessible and affordable for everyone.”