Insulation industry news from Global Insulation
US: Owens Corning recorded sales of US$7.48bn during the first nine months of 2022, up by 17% year-on-year from US$6.37bn in the first nine months of 2021. Its adjusted earnings before interest, taxation, depreciation and amortisation (EBITDA) rose by 24% to US$1.8bn from US$1.45bn. The group's insulation sales rose by 19% to US$2.76bn from US$2.32bn. The segment's higher selling prices reportedly offset accelerating energy, material and transport inflation.
During the year, the company transferred or sold all Russian assets, which had previously contributed US$100m in sales in 2021. Elsewhere, Owens Corning launched three new products during the third quarter of 2022 alone.
Indutrade to acquire Bramming Plast-Industri 31 October 2022
Denmark: Sweden-based Indutrade has concluded an agreement to acquire foam producer Bramming Plast-Industri. The parties expect to close the transaction later in 2022.
Bramming Plast-Industri's products include Inotan polyurethane (PU) and polyisocyanurate (PIR) foams and Setex recycled PU granular foam.