Insulation industry news from Global Insulation

US: Installed Building Products’ net revenue grew by 17% year-on-year to US$925m in the first half of 2021 from US$791m in the same period in 2020. Its earnings before interest, taxation, depreciation and amortisation (EBITDA) rose by 18% to US$124m from US$105m.

Jeff Edwards, chairman and chief executive officer commented, “As expected, the building products supply chain remained constrained during the second quarter, which we believe will continue for the foreseeable future. These trends continue to impact our ability to purchase certain materials and, in some cases, affected our ability to complete work on behalf of certain customers primarily within our multi-family end market.”

France: Saint-Gobain’s sales grew by 24.6% year-on-year to Euro22.1bn in the first half of 2021 from Euro17.8m in the same period in 2020. Earnings before interest, taxation, depreciation and amortisation (EBITDA) nearly doubled to Euro3.25bn from Euro1.64bn. Both sales and earnings were also higher than the comparable period in 2019.

“These first-half 2021 record results surpass even our second-half 2020 performance. This success reflects the profound positive changes in our organisation from Transform & Grow,” said Benoit Bazin, chief executive officer of Saint-Gobain. “It also reflects structural changes in our markets, which should show an acceleration in growth over the coming years.”

The group added that it had integrated its Strikolith subsidiary into the main business. It acquired the Netherlands-based exterior insulation systems producer in late 2020.

Ireland: Xtratherm has agreed to acquire Ballytherm’s Ireland and UK operations. The businesses include one polyisocyanurate (PIR) insulation plant in Ballyconnell, County Cavan and a new production unit that the company is preparing to open at Ross-on-Wye in the UK. The expansion is intended to expand the operations of Unilin Insulation, the owner of Xtratherm, in the UK and Ireland.

Barry Rafferty, the managing director of Xtratherm, said “The acquisition of Ballytherm, along with additional investment in new technologies will allow Xtratherm to deliver on operational excellence, new product innovations and improved service that will contribute towards a stronger and more sustainable future for our employees, customers and the construction sector in the UK and Ireland.” At present Xtratherm operates two foam insulation plants in Ireland and the UK respectively.

The proposed acquisition will be subject to the approval of competition authorities in Ireland. The transaction is expected to complete by the end of 2021.

UK: The Construction Leadership Council and Department for Business, Energy and Industrial Strategy have named Knauf Insulation UK & Ireland a ‘Business Champion’ under the CO₂nstruct Zero building industry decarbonisation transition initiative. The status signifies demonstrated leadership in promoting best practice to reduce construction’s carbon footprint.

Northern Europe regional managing director Neil Hargreaves said “Net zero is a colossal challenge, and to achieve it will require unprecedented collaboration. As the biggest supplier of insulation into newbuild homes in the UK and the nation’s only manufacturer of both glass and stone Wool, we have an important role to play.” He added “We look forward to working with our partners across the supply chain to create a built environment that’s fit for the future. Improved insulation will be at the heart of UK construction’s efforts to decarbonise.”

US: Denmark-based Rockwool has commissioned its new Ranson stone wool insulation plant in Jefferson County, West Virginia and started commercial production. The company has hired 110 people to work at the 43,000m³ facility. It says that the plant will employ a total of 150 once production has ramped up in mid/late 2021. It is equipped with fuel-flexible melting technology, enabling operations to switch to natural gas from coal. This can reduce the plant’s CO₂ emissions by 30%, according to the company.

Chief executive officer Jens Birgersson said “In the US, as in Europe and Asia, there is a growing demand for Rockwool’s non-combustible, recyclable stone wool insulation. The West Virginia facility will help meet that demand in North America. We are proud that our products play such an important role in reducing the energy consumption and carbon emissions associated with buildings, and do so in a safe, sustainable manner.”