Insulation industry news from Global Insulation

Hungary: Masterplast has concluded an agreement to acquire Pimco. Pimco is in the process of establishing a Euro35.7m, 20,000t/yr glass wool plant at Szerencs, Borsod-Abaúj-Zemplén County. Növekedés News has reported that an advance investment by Masterplast in the company will enable Pimco's Szerencs plant project to move into the implementation phase. It would then enter production in 2024. Masterplast will fund the investment using the proceeds of its Euro23.3m stock market capital raising in October 2022. The upcoming Szerencs plant was previously the subject of a Euro35.7m grant from the Hungarian Investment Promotion Agency.

Masterplast employs 1400 people across 10 countries.

Germany: Netherlands-based FALK Bouwsystems has agreed to purchase Salzgitter Bauelemente from Salzgitter Group for an undisclosed price. Steel construction element manufacturer Salzgitter Bauelemente will continue to do business as a independent subsidiary with its existing managing director Kai Bohmbach. Under the terms of the acquisition, Salzgitter Bauelemente’s plant in Lower Saxony will continue to be supplied with raw materials from Salzgitter Flachstahl. However, its building and storage area will remain the property of Salzgitter Flachstahl and are leased to the purchaser for a minimum rental period of 10 years, with an option to extend.

FALK Group said, “With the acquisition of Salzgitter Bauelemente, we are pursuing the goal of entering the German market independently. To this end, we will build on the existing know-how and intend to expand the production volume at this location. The investment measures planned by management are also to be continued.”

Salzgitter Bauelemente produces steel construction elements, including sandwich panels made with polyurethane and mineral wool cores. Sandwich panel producer FALK Bouwsystems produces around 5Mm²/yr, about twice that of Salzgitter Bauelemente.

Belarus/Russia: US-based Owens Corning has agreed to sell its Belarusian and Russian assets to materials and technologies company Umatex. Umatex is a subsidiary of Russian state-owned nuclear power provider Rosatom. World Service Wire News has reported that the assets in question include the Gus-Khrustalny glasswool plant in Vladimir Oblast and the Tver mineral wool insulation plant in Tver Oblast, both in Russia.

Owens Corning chair and CEO Brian Chambers said "This announcement represents the final step in our process to fully exit our operations in Russia. I would like to thank our colleagues in Russia for their contributions to our company and customers over the years."

Spain: Norway-based BEWi has concluded a deal for the acquisition of an 80% stake in Aislamientos y Envases. Aislamientos y Envases operates three Spanish insulation plants, where it produces its expanded polystyrene (EPS) insulation products, including boards for underfloor heating and panels for external thermal insulation composite systems.

BEWi CEO Christian Bekken said “Through this acquisition, we are expanding our geographic footprint into Spain, primarily within the market for insulation solutions." Bekken added "There is a huge need to make buildings in Europe more energy efficient, to reduce CO₂ and energy costs.”

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.

Romania: Austria-based Austrotherm has concluded an agreement to acquire 100% ownership of extruded polystyrene (XPS) insulation panels producer Zentyss. Zentyss operates a plant in Arad, Transylvania.

Austrotherm managing director Klaus Haberfellner said "This acquisition increases the security of supply and the range of products for customers in Romania and neighboring countries. The central location of Arad enables the optimisation of transport routes to customers, which means that CO₂ emissions can be massively reduced." He concluded "Our leadership position in XPS in Romania is now well secured. I am particularly pleased to welcome 106 new colleagues to our company."

Germany: Ireland-based Kingspan has concluded a deal to acquire mineral wool-based sandwich panels producer Calostat from speciality chemicals company Evonik. Calostat's boards have Cradle to Cradle Gold certification for sustainability and employ a unique moisture management concept.

Kingspan said that the acquisition complements its portfolio and enhances its ability to offer the right type of insulation for every application.

Spain: Ireland-based Kingspan has acquires mineral wool-based sandwich panel producer Invespanel. Invespanel’s panels include extruded polystyrene (XPS) and expanded polystyrene (EPS)-core refrigeration panels, and the company continually develops new sandwich panels for various applications. Invespanel recorded a turnover of Euro11m in 2021.

Kingspan’s Southern Europe insulated panels director Josep Jordan said “The integration of Invespanel into Kingspan is a great opportunity to complement our offerings with customised products for even the most demanding applications. The synergies with the Kingspan group, together with Invespanel's technological know-how and human capital, will be the key tool to drive the growth of our project in Southern Europe.”

France: Ireland-based Kingspan has closed its acquisition of Ondura Group. The group consists of light roofing producer Onduline, membranes producer CB and waterproofing systems producer Alwitra. It operates plants in four European countries, as well as Brazil, Malaysia, Turkey and the US. Law firm Clifford Chance, a long-term partner of Kingspan, advised the insulation group through the deal.

On 27 September 2022, Kingspan acquired waterproofing membranes producer Derbigum in neighbouring Belgium. Derbigum has recycled 30,000t of bitumen in its operations to date.

Hungary: Masterplast says that it has signed an option contract to acquire the outstanding 76% stake of expanded polystyrene (EPS) producer T-Cell Plasztik. T-Cell Plasztik holds a 10% market share in Hungarian polystyrene production, and recorded revenues of US$7.91m in 2021.

Masterplast first acquired a 24% stake in T-Cell Plasztik in June 2019.