Finland: Paroc’s net sales for its building insulation division has risen by almost 1% year-on-year to Euro215m in the first nine-months of 2016 from Euro213m in the same period of 2015. However, on an adjusted basis for comparable insulation rates the insulation producer says that its sales grew by 2.4%. It reported sales volumes growth in most markets except for the Baltic countries and Russia. Overall sales for the company rose slightly to Euro301m, boosted by growing sales for technical insulation.

Russia: Rockwool division manager Henrik Frank Nielsen expects the Russian market to grow eventually despite a poor market for insulation materials at present, a troubled local economy and looming international political risks. He told Danish newspaper Børsen that Russia is still both a healthy and profitable market but that it is difficult to make long-term plans in the country. The Russian market for insulation materials for the construction sector decreased by 15% in 2015 and Nielsen expects an equally high decrease for 2016.

US: Owens Corning’s insulation sales have fallen by 4% year-on-year to US$1.28bn in the first nine months of 2016 from US$1.33bn in the same period in 2015. Its earnings before interest and taxation (EBIT) fell by 7.8% to US$83m from US$90m. The company described the US new residential construction market as ‘competitive’ and said that it expects its insulation revenue in 2016 to drop by 5%. However, it believes that pricing stabilised late in the summer of 2016 and that the mid-term outlook for this business remains unchanged.

Across all businesses, the company reported that its net sales rose by 5.9% to US$4.29bn from US$4.05bn and that its EBIT rose by 37% to US$563m from US$410m. It also mentioned the strong performance of its roofing business in the third quarter of 2016.

US: The board of directors of Stepan Company has unanimously appointed F Quinn Stepan, Jr, the company's president and CEO and a director, to succeed F Quinn Stepan as chairman. Stepan, Jr will assume the role upon his father’s retirement on 31 December 2016. Stepan, Sr has served as chairman since 1984, and previously served as CEO of the company from November 1984 to December 2005. The company also announced that Edward J Wehmer will serve as lead independent director, effective upon Stepan Sr's retirement.