Insulation industry news from Global Insulation
Kingspan reports 2023 results
19 February 2024Ireland: Kingspan’s sales declined by 3% to Euro8.09bn in 2023 from Euro8.34bn in 2022. Its insulation sales fell by 8% and its insulated panels sales by 9%. Meanwhile, roofing and waterproofing sales grew to reach Euro500m. The group’s profit after tax rose by 6% to Euro654m from Euro616m. It invested Euro248m in new acquisitions throughout the year. Kingspan plans to invest Euro750m up to 2028 in order to capture 15% of the flat roofing market in North America.
CEO Gene Murtagh "Beyond insulation, each of our climate-focussed business units across roofing and waterproofing, light, air and water and data and flooring are scaling at pace with every potential for each to exceed Euro1bn divisional revenue over the coming years.” Murtagh added “Given our robust balance sheet, strong development pipeline, strong structural demand for energy efficiency and the ever increasing and obvious impacts of climate change, we expect 2024 to be a year of continuing strategic and operational progress for Kingspan.”
Saint-Gobain acquires Menkol Industries
11 December 2023India: France-based Saint-Gobain has acquired waterproofing systems producer Menkol Industries. Menkol Industries operates a high-density polyethylene (HDPE) products plant in the Kinfra Industrial And Textile Park in Kanjikkode, Kerala.
Holcim Building Envelope supplies insulation systems for world’s largest Passive House office building
06 November 2023US: Holcim Building Envelope supplied insulation and roofing systems, including its Elevate ISOGARD polyisocyanurate (PIR) insulation boards, to the 62-storey Winthrop Center tower block in Boston, Massachusetts. The Winthrop Center is the largest office building ever built on the Passive House positive energy efficiency model. Holcim Building Envelope says that its insulation and roofing systems deliver 40% better thermal performance than competing products, helping the block to achieve a 150% reduction in net energy use compared to an average Class A building in Boston.
Holcim Building Envelope commercial roofing systems & lining president Kristin Beck said "The Passive House certification of the Winthrop Center highlights the superior sustainable performance and quality of our Elevate products. This certification reinforces the effectiveness of Holcim's innovative building envelope solutions in significantly reducing energy consumption, and it also sets a standard for sustainable construction in cold climate regions."
Canada: Saint-Gobain has entered into a definitive agreement to buy Building Products of Canada for around Euro925m in cash. The privately owned company manufactures residential roofing shingles and wood fibre insulation panels. The acquisition is intended to reinforce Saint-Gobain’s position in light and sustainable construction in the Canadian market. Closure of the transaction is subject to customary conditions and expected by the end of 2023.
Benoit Bazin, chief executive officer of Saint-Gobain, said “This is an important and logical step for Saint-Gobain, allowing us to establish a leading position in roofing in Canada, completing our offering for the building envelope which we have reinforced with the recent Kaycan and GCP acquisitions. It completes our offering of solutions for light and sustainable construction in Canada as we have done successfully in the US.”