Insulation industry news from Global Insulation

Denmark: Rockwool Group has launched a new brand identity including a new corporate symbol, a graphic representation of a volcano. It says that the symbol stands for the, ‘commitment to enrich modern living through processes and products that exist harmoniously.’ It will be used across all of the group’s brands. It is also intended to demonstrate to customers and stakeholders how the company uses volcanic stone to ‘enrich and transform modern living.’ The group has also adopted a new motto – ‘Release the natural power of stone to enrich modern living’ – to compound the theme.

“I am proud of the Rockwool Group’s long heritage in harnessing the power of one of the world’s most abundant natural resources in sustainable and innovative solutions that help solve the challenges of modern living. The updated brand identity marks an important evolution in the way we talk about our company, conveying a consistent vision and shared heritage across our diverse product portfolio’s full range,” said Mirella Vitale, Rockwool’s Senior Vice President for Group Marketing, Communications & Public Affairs.

Thailand: Eastern Polymer Group is set to spend US$2.8m upgrading its Aeroflex insulation production lines with automation technology. The investment is part of a total of US$14.3m being spent by the company on cost efficiency, according to the Bangkok Post. It previously spent US$11m in 2015 towards improving production costs in order to increase its profit margin.
Deputy chief executive Challeo Vitoorapakorn said that, although Aeroflex demand had slowed over the past few years, the company is expecting the construction industry to grow in 2017.

Denmark: Bjørn Høi Jensen, the chairman of Rockwool, has announced that he will not be standing for re-election at the company’s annual general meeting in April 2017. He said that as he had met his goals to review the management group, start a new growth plan and introduce an ‘extensive’ improvement in results that he was standing down earlier than planned. He originally became chairman in 2014.

Rockwool’s external net sales for its insulation division dropped by 2% to Euro1.63bn in 2016 from Euro1.66bn in 2015. In local currencies the company calculated a slight rise of 0.7% for its net sales. However, its overall profit nearly doubled to Euro166m from Euro90m and its earnings before interest, taxation, depreciation and amortisation (EBITDA) rose by 21% to Euro389m from Euro322m. It blamed the poor sales on the industrial and technical insulation industries and the slow development of construction in Russia in both new build and renovation. In a statement Jensen described 2016 as a year ‘marked by tough conditions.’

The insulation and building materials producer also announced that it was planning to build three new production plants including a stone wool factory in Mississippi, US. Land acquisitions for the projects are expected to be completed in 2017.

Germany: Saint-Gobain has purchased the Augustdorf glass plant in North Rhine-Westphalian from Teuto-Glasveredelung. The unit produces thermal insulating glass products as well as sound-insulating glass and other glass products. The purchase is planned to be completed in March 2017, subject to approval by the government.

New Zealand: Fletcher Materials has said that it has been able to strengthen its insulation business in both New Zealand and Australia due to improvements in service and relative cost position in the six months to 31 December 2016, following site closures at its Fletcher Insulation business. Overall, operating earnings before significant items for its Building Materials lines, including plasterboard and insulation products, rose by 10% year-on-year to US$38m from US$34.4m.