Insulation industry news from Global Insulation

US: Owens Corning has announced its 2030 sustainability goals. These represent the company’s third set of long-term goals and are designed to expand the company’s business impact through sustainability, continuing its commitment to incorporate material environmental, social and economic initiatives into its global practices and operations.

“These goals advance our business priorities by pushing us to discover increasingly more sustainable solutions, which is becoming more important to our customers and other key stakeholders,” said chief executive officer (CEO) Brian Chambers.

Owens Corning’s 2030 sustainability goals include reducing greenhouse gas emissions by 50%, sourcing 100% renewable electricity to reduce product embodied carbon, maximising product sustainability and building and supporting inclusive and diverse teams that reflect the communities where they live, work and serve. The greenhouse gas emission goal is in line with guidance to hold global warming to 1.5°C degrees and it was approved by the Science Based Target Initiative.

Uzbekistan: Russia’s TechnoNicol is ‘seriously considering’ building a new 1.3Mm³/yr stone wool insulation plant In Uzbekistan. Vasily Tkachev, the head of the Mineral Insulation division of TechnoNicol, said that building a plant in the country would be ‘geographically justified,’ according to the Trend News Agency. He added that ‘significant’ changes in the local regulatory framework were expected regarding the requirements for energy efficiency of buildings during new construction and reconstruction. A final decision on the project will be made following a full assessment of the market and its potential sales regions.

UK: SIG has agreed to sell its Building Solutions division to Kingspan Group for Euro42m. Building Solutions is a UK manufacturer and distributor of building envelope solutions operating through brands including Steadmans, United Roofing Products, Trimform Products, and Advanced Cladding & Insulation. SIG decided to sell the division following a strategic review in 2017. Proceeds from the sale will be used to reduce SIG’s debts.

Hungary: MOL Group and ThyssenKrupp Industrial Solutions have laid the foundation stone at a new polyol plant being built at Tiszaújváros. MOL Group is investing Euro1.2bn in the project. It is expected to be commissioned in 2021 and will produce around 200,000t/yr of polyols.

The new Tiszaújváros complex will produce polyether polyols using technologies such as the HPPO process (propylene oxide from hydrogen peroxide) developed by ThyssenKrupp and Evonik. Polyols produced at the new plant will be potentially used as a precursor chemical in many industries, including polyurethane building insulation.

“This investment project will make MOL Group one of the most important players in the region’s chemical industry, with MOL being the only Central and Eastern European company to control the entire value chain from crude oil extraction to polyol production,” said Zsolt Hernádi, the chairman and chief executive officer (CEO) of MOL.

US: Owens Corning has appointed the former Cabot Corporation executive vice president, chief financial officer and president of the Americas region Eddie Cordeiro to its board of directors. He will be tasked with bringing his 25 years’ financial and operational experience to the operations of the global insulation, roofing and fibreglass composite materials leader.