Insulation industry news from Global Insulation

UK: Kingspan has reported that its revenue rose by 47% year-on-year to Euro2.77bn in 2015 from Euro1.89bn in 2014. Its profit after tax rose by 79% to Euro191m from Euro107m. It attributed the result to ‘strong’ organic growth in the UK, North America, Turkey and the Middle East, more than offsetting losses in some European markets and in Australasia.

“We are delighted to report a record performance for the group in 2015 and a strong start to 2016. The two major acquisitions completed last year have performed ahead of our expectations, with Joris Ide and Vicwest significantly expanding our presence in Continental Europe and North America respectively,” said Gene Murtagh, Chief Executive of Kingspan.

US: Albemarle Corporation, a flame retardant manufacturer, and ICL, a specialty chemical company, have announced that they have entered into a long-term agreement for the supply of a polymeric flame retardant. The product is manufactured at ICL's facilities in the Netherlands and in Israel using technology licensed from Dow Global Technologies LLC, a subsidiary of The Dow Chemical Company.

This next generation flame retardant, which is marketed by Albemarle under the brand name GreenCrest and by ICL under the brand name FR122P, is a sustainable alternative for customers transitioning from hexabromocyclododecane (HBCD)-based flame retardants currently used by the building industry in extruded polystyrene (XPS) and expanded polystyrene (EPS) foam insulation products. Albemarle will supply ICL with bromine for the production of GreenCrest, associated with the agreement. The agreement is subject to certain conditions precedent, including approval of Israel's Antitrust Authority.

Albemarle and ICL will continue to provide independent marketing, sales and technical service to their respective customers in Europe and around the world to ensure a transition as EPS and XPS producers continue to shift from HBCD to the polymeric flame retardants.

New Zealand: Fletcher Building has reported that its net profit rose by 51% year-on-year to US$114m in the half year that ended on 31 December 2015 from US$75.6m in the same period in 2014. Its sales rose by 2.5% to US$2.94bn from US$2.87bn. It attributed this to growth in its building products and distribution businesses making up for weaker earnings from Formica and New Zealand housing developments.

Fletcher Building reported that gypsum wallboard volumes via its Building Products division rose by 9% in the half year. Volumes of performance board rose by 12%. Sales volumes of insulation rose by 12% in New Zealand and 9% in Australia. It noted that its market share has also improved in both insulation markets due to competitive pricing following the strengthening of the US Dollar.

UK: Celotex has launched a new range of flat roofing insulation solutions. It comprises three products: Celotex Crown-Bond, Crown-Up and Crown-Fix. The products were developed with contractors, installers and distributors, following an 18-month testing period.

“The new product range from Celotex perfectly demonstrates the commitment that British Rigid Urethane Foam Manufacturer’s Association (BRUFMA) members have to improving product quality and driving up standards for insulation in the UK,” said Mel Price, Assistant Chief Executive of BRUFMA.

BRUFMA represents most of the major companies in the Polyisocyanurate (PIR) and polyurethane (PUR) industry in the UK, including manufacturers of finished products, suppliers of the various raw materials and associated services.

US: Carlisle Construction Materials’ net sales rose by 4.4% year-on-year to US$484m in the fourth quarter of 2015. The building products manufacturer attributed the growth to demand for insulation application and commercial roofing and good weather. It also benefitted from lower raw material costs and improved business practices although this was partially offset by lower selling prices.

Overall, the Carlisle Companies subsidiary reported that its net sales rose by 3.5% year-on-year to US$2bn in 2015 from US$1.94bn in 2014. Its earnings before interest and income taxes rose by 30.6% to US$351m from US$269m.