Insulation industry news from Global Insulation

US: Johns Manville’s Corbond open cell spray foam (oc SPF) has met the requirements for application without a prescriptive ignition barrier in sealed unoccupied attics for commercial and residential projects. The approval eliminates the need to apply a separate fire protective coating. The achievement is detailed in a code compliant research report, CCRR-1079, from Intertek.

“We are committed to providing the highest quality service and products to our customers, which is why we are constantly improving upon our broad range of insulation solutions,” said Bob Wamboldt, senior vice president and general manager of Insulation Systems at Johns Manville. “By optimising JM Corbond oc SPF to achieve new code compliance, we are helping our customers achieve performance goals in less time and with fewer materials.”

JM Corbond oc SPF is a two-component, low-density, non-structural insulation system designed for commercial, residential and industrial applications.

Finland: Paroc has described 2016 as ‘fairly challenging’ as its net sales fell slightly to Euro376m and its earning before interest, taxation, depreciation and amortisation (EBITDA) rose by 4% to Euro76.5m in 2016 from Euro73.3m in 2015. Despite reporting an improvement in construction activity in the second half of the year, sales fell in Russia. The insulation producer solid its Paroc Panel System (PPS) business to Kingspan Group in December 2016 and it announced plans to shut its Oulu stone wool plant in January 2017.

US: Installed Building Products’ (IBP) net revenue rose by 30% year-on-year to US$863m in 2016 from US$663m in 2015. Its net income rose by 45% to US$38.4m from US$26.5m. The company has attributed the growth to its presence in strong housing markets.

"IBP achieved many milestones during 2016, including record revenues and earnings, the addition of nearly US$100m in acquired revenues and the announcement of the acquisition of Alpha Insulation and Waterproofing, the largest acquisition we have made to date," said Jeff Edwards, chairman and chief executive officer of IBP.

Finland: Following negotiations with staff Paroc has decided to shut down its Oulu stone wool plant in July 2017. The closure will involve the transfer and centralisation of support functions currently in Oulu to other Paroc plants and locations. Production of building insulation will be moved mainly to the Paroc plant in Parainen and support functions will be moved to other Paroc locations. 64 members of staff will lose their jobs, including all of the production workers at Oulu, and five staff will be moved to other locations.

“The decision to shut down the factory was difficult due to the considerable impact it will have on the personnel. However, the utilisation rate of the current capacity of Finnish stone wool factories is too low to ensure competitive operations in Finland. The factory located in Oulu is old and, in addition to the already high cost structure, continuing operations would require significant investments in the near future,” says Kari Lehtinen, chief executive officer of Paroc Group.”

US: William W Boeschenstein, the former chairman and chief executive officer of Owens Corning has died. He joined the company in 1950 and served as chief executive officer from 1973 to 1990, and chairman from 1981 to 1990. He was the son of Owens Corning's first chief executive officer, Harold Boeschenstein. These two men led the company for more than 50 years.

"Bill's strong values and commitment to integrity created a culture that is still thriving today at Owens Corning," said Mike Thaman, Owens Corning chairman and chief executive officer. "As a former colleague and personal friend, Bill will be missed for his contributions to the company, and for his generous support to our community."

Boeschenstein graduated from Yale University and served in the US Army Air Force during World War II, prior to joining Owens Corning. Under his leadership as chief executive officer, Boeschenstein shaped both the direction of the company and its industries. During this tenure, Owens Corning grew its annual sales from approximately US$615m to approximately US$3bn. Highlights of Boeschenstein career include resisting a hostile takeover in the 1980s and maintaining the company’s independence. He was also instrumental in Owens Corning's decision to utilise the Pink Panther in its advertising to link the colour of its insulation to the cartoon character.