Insulation industry news from Global Insulation

UK: SIG has appointed Andrew Allner as its chairman with effect from 1 November 2017. He will also take the role as a non-executive director. He succeeds Leslie Van De Walle who first announced his intention to retire in March 2017. Van De Walle will now step down as chairman and retire as a director on 31 October 2017.

Allner is currently the chairman of Marshalls, the Go-Ahead Group and Fox Marble Holdings, and a non-executive director at Northgate. Marshalls has announced that it will now start the process to recruit a successor to Allner and
that he will resign from the Marshall's board, once the new chairman is established in position. He was previously Non-Executive Director of AZ Electronic Materials, until 2014, and CSR, until 2013. Previous executive roles include Group Finance Director of RHM and chief executive officer (CEO) of Enodis. He also held senior executive positions with Dalgety, Amersham International and Guinness. Allner is a chartered accountant, former partner of Price Waterhouse and graduate of the University of Oxford.

Poland: Finland’s Paroc is spending around Euro60m on an expansion project at its Trzemeszno mineral wool plant. A new 70,000t/yr stone wool production line will be built at the site. The upgrade is expected to be completed in 2019.

"This is an important step for Paroc to continue the profitable growth. Demand for insulation has been increasing, especially in the Central and Eastern Europe. With increased production capacity we are able to grow together with our customers and improve our competitiveness and efficiency," said Kari Lehtinen, chief executive officer (CEO) of Paroc.

Europe/Spain: The European Commission has approved, under the European Union (EU) merger regulation, the acquisition of Spanish insulation producer URSA by Germany’s Xella. The commission concluded that the acquisition would raise no competition concerns because of the limited overlaps between the activities of the companies. The deal was first announced in August 2017 and it is expected to be completed by the end of 2017.

US: Canada’s Icynene has offered to buy Houston-based Lapolla Industries for US$160m. Under the terms of the merger agreement Icynene will acquire all the outstanding shares of Lapolla. The acquisition is subject to customary closing conditions, including receipt of regulatory approvals. Both companies produce polyurethane spray foam (SPF) insulation products.

"Icynene is thrilled to partner with Doug Kramer, the President and chief executive officer (CEO) of Lapolla, and his team as Icynene and Lapolla combine businesses to create an innovative leader in high yield SPF manufacturing and distribution," said Mark Sarvary, CEO of Icynene.

Sweden: Denmark’s Rockwool has purchased 180,000m² of land in the eastern Swedish municipality of Eskilstuna. The acquisition is intended for future growth and to allow the mineral wool producer to meet any potential rise in demand for its products. At present the company supplies the Swedish market with products manufactured at plants in Denmark and Norway.