Insulation industry news from Global Insulation

Hungary: The government plans to avail citizens of €280m in subsidy for residential refurbishments that increase efficiency, beginning in June 2024. The initiative aims to help renovate 20,000 homes, installing new insulation, boilers, doors and window frames. Local press has reported that that homeowners who contribute €2800 may receive up to €16,800. The goal of the scheme is to reduce gas consumption in line with EU policy. It has backing from the EU's Recovery and Resilience Facility, and is expected to generate €650m in additional orders for Hungarian building materials producers.

Poland: Austria-based Hirsch Servo Group has concluded a deal to acquire expanded polystyrene (EPS) insulation producer Tyron. Hirsch Servo Group previously acquired EPS assets in Romania through its takeover of Arcon’s insulating materials division in 2016.

APA Economic News has reported that Hirsch Servo Group chair Harald Kogler said "By entering the Polish insulation market, we not only see a significant expansion of our product portfolio but also important impulses for our already established production sites in Wrocław and Łódź, which primarily focus on packaging production."

Kazakhstan: TechnoNICOL has inaugurated its new US$20m, Almaty extruded polystyrene (XPS) insulation plant in the Kairat Industrial Zone. Once fully operational, the plant will have a capacity of 400,000m³/yr, AK&M News has reported. Exports to Kyrgyzstan, Tajikistan, Turkmenistan and Uzbekistan will follow the launch of the plant’s products on the Kazakh market later in 2024.

US: Kingspan Insulated Panels North America is building a new K-Roc mineral wool insulation plant in Mattoon, Illinois. The producer expects the plant to commence operations in early 2025. It will be equipped with a solar power plant and rainwater harvesting system, recycling system and electric vehicle charging stations. When operational, it will employ 50 people. Kingspan’s K-Roc mineral wool insulation offers a three-hour fire rating in wall applications and one-hour fire rating in ceiling applications.

Kingspan Insulated Panels North America president Alswinn Kieboom said "As a result of continued growth and optimism for the future, the addition of this new facility complements our existing footprint in North America, giving us better access to our customer base. We are looking forward to launching this new site and having a presence in the Midwest."

Sweden: Ireland-based Kingspan has raised its stake in Nordic Waterproofing to 35.7%, after the company's board and most shareholders rejected a takeover bid by the group. The Irish Times newspaper has reported that some Nordic Waterproofing shareholders accepted the offer, against the company’s recommendation. Following the conclusion of the offer period on 27 March 2024, Kingspan decided not to extend it.