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News Items filtered by date: Tuesday, 07 June 2022

Insulation industry news from Global Insulation

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Etex completes URSA acquisition

07 June 2022

Spain: Etex has completed its acquisition of extruded polystyrene (XPS) and glass wool insulation producer URSA from Xella Group. URSA operates 13 plants and employs 1700 people.

Xella CEO Christophe Clemente said “With this portfolio simplification, Xella takes an important step, to focus its resources on the development of building materials solutions. With our complementary product types, autoclaved aerated concrete and calcium silicate products, we aim to strengthen our position as a leading European supplier of masonry solutions. I warmly thank the URSA teams for their achievements during the successful past years within Xella Group and wish them a bright future with Etex.”

Published in Global Insulation News
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Belgian government lowers VAT on insulation

07 June 2022

Belgium: The government has reduced value-added tax (VAT) on insulation to 6% from 21%. The measure aims to reduce national natural gas consumption in order to be prepared for any future shortage. Belgium is 6% reliant on Russia for its gas supply. Utilities companies supplying the Benelux region have declined to settle their bills with Russia-based producer Gazprom in Russian Rubles, so face a shut-off. Energy Minister Tinne Van der Straeten said that the Port of Zeebrugge was ready to begin imports of liquefied natural gas (LNG) from the US and elsewhere.

Van der Straete called on Belgians to ‘Insulate your homes, isolate Putin.’

Published in Global Insulation News
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