Insulation industry news from Global Insulation

Italy: Switzerland’s Sika has purchased a majority stake in Index Construction Systems and Products, a manufacturer of insulation, roofing and waterproofing products based near Verona. The acquisition is intended to extend Sika’s position in the Italian market and offer advantages in Southern Europe and North Africa. No value for the transaction has been disclosed.

“Index is a proven industry leader and together we will hold a strong number one position in the Italian roofing market. On account of its high research and development competence, and expandable production capacity, Sika will establish the new site as its Southern European production hub for bituminous systems, with potential to also serve the Middle East and Africa,” said Paul Schuler, the chief executive officer (CEO) of Sika.

Index’s product portfolio consists of bituminous membranes for roofing and waterproofing, products for thermal and acoustic insulation, as well as waterproofing and repair mortars. The company mainly serves customers in Italy, but also in more than 100 other countries worldwide. Index was established in 1978 by Luigi Carlon, who has owned and run the company since then. To ensure a smooth transition, he will keep a minority stake and continue to contribute to the management of the company as the chairman of the board of Index.

Kuwait: Saint-Gobain and Kuwait’s Alghanim Industries have become joint venture partners in insulation producer Kimmco. Kimmco runs a mineral wool plant in Shuaiba-Kuwait, operating under license from Saint-Gobain Isover. It reported sales of around Euro70m in 2016 selling products in Kuwait and the Middle East.

Saint-Gobain and Alghanim Industries already operate joint venture in Turkey (Izocam) and Saudi Arabia (Siimco). Kimmco, like the other common joint-ventures, will be managed jointly by both partners and will be consolidated in Saint-Gobain's accounts.

UK: SIG’s revenue from continued operations rose by 7.5% on a like-for-like basis to Euro3.2bn in 2017. This was supported by a rise in the group’s Insulation & Interiors revenue in the UK, bolstered by rising prices. Reviving construction markets in Europe also aided performance. The group will announce its full financial results in March 2018.

UAE: Kingspan Insulation has started producing its Thermaroof TR22 brand insulation product at its plant in Dubai, according to the Emirates News Agency. The product has a fibre-free polyisocyanurate (PIR) insulation core. It is used for flat roofing cover boards to overlay new and existing flat roofs waterproofed with single-ply and cold liquid applied waterproofing. The plant also produces other products in the flat roof insulation line.

US: Kingspan Insulation has expanded its GreenGuard extruded polystyrene (XPS) insulation board range with additional thickness products and strengths. The range now includes 3 inches and 4 inches in select 25, 40 and 60 psi compressive strength boards, and a new four-sided routed drainage channel board. The new products are intended to extend the GreenGuard line into roofing, cold storage, and various below grade and vertical wall applications markets.