Insulation industry news from Global Insulation

Sweden: Denmark-based BewiSynbra has announced its acquisition of an extruded polystyrene (XPS) insulation plant in Norrköping after its conditional takeover of the owner for Euro5.6m including BewiSynbra’s assumption of its debts. The company says it will expand XPS production and install an expanded polystyrene (EPS) insulation line at the plant in late 2020, as a result of which it will close its nearby Norrtälje EPS insulation plant. It expects to conclude the deal in February 2020.

Switzerland: Sika’s 2019 sales rose by 14% year-on-year to Euro7.50bn from Euro6.56bn in 2018. The year saw seven new plants open and the acquisition of UK-based Parex, China-based Crevo-Hengxin and Canada-based King Packaged Materials. “By consistently pursuing this strategic path we will be able to further exploit the business potential of our markets and generate sustainable, profitable growth,” said Sika CEO Paul Schuler.

UK: SIG has reported a fall in 2019 sales of 6.1% year-on-year to Euro2.95bn from Euro3.13bn in 2018. Total UK and Ireland sales fell by 16%, with a drop of 21% by its distribution division and of 8.6% by SIG Exteriors. Sales in Germany and the Benelux fell by 2.6% and 3.3% respectively, while in France they grew by 2.2% and in Poland by 2.1%. The largest proportional growth came from SIG Air Handling, whose sales grew by 5.6%.