Insulation industry news from Global Insulation

Germany: Covestro has signed an agreement with HIG Capital, a private equity company, for the sale of its European Systems Houses business. HIG Capital aims to position the business towards mid-sized customers. Covestro will retain its polyurethane markets in Asia where it will continue to serve its customers. The sale is part of Covestro’s ongoing portfolio optimization process that includes the sale of Covestro’s North American spray polyurethane foam systems home business in 2017.

The systems houses businesses are part of the Covestro’s Polyurethanes segment and sell tailor-made polyurethanes systems. The European Systems Houses business comprises facilities in the Netherlands, Denmark, Spain, Germany and further businesses in Italy. Operations will continue at the current facilities while Covestro will continue to have strong ties with the systems houses business as a key polyurethanes supplier.

The closing of the transaction is expected for the second half of 2019 after the required antitrust clearance. No value for the sale has been disclosed.

Slovenia: A fire broke out at Fragmat’s insulation plant at Podskrajnik near Cerknica on 13 June 2019. Around 450 fire fighters were involved in controlling the blaze, according to the Slovenian Press Agency. The unit manufactures polystyrene insulation.

US: Johns Manville (JM) plans to build a new fibreglass insulation production line at its McPherson plant in Kansas. The new line will produce its Climate Pro blowing wool product. JM will begin construction on the expansion project later in 2019 pending various governmental approvals. It anticipates the completion in early 2021. When complete, JM will employ more than 330 people in McPherson.

US: Celotex has been named in a lawsuit filed in Philadelphia on behalf of victims and families of the 2017 Grenfell Tower fire in London, UK that killed 72 people. Attorneys for the plaintiffs said they represent the estates of 69 of the 72 people who perished in the residential high-rise fire, and 177 survivors who suffered life-altering injuries, according to Reuters. The lawsuit demands a jury trial but has not specified the amount of compensation it is seeking. Whirlpool and Arconic have also been named in the document.

US: Owens Corning plans to expand its RainBarrier continuous insulation product range. The new products in the portfolio will offer better compressive strength. They will be available in the second half of 2019. The building materials producer made the announcement at the AIA Conference on Architecture.