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Insulation industry news from Global Insulation
Arkema completes acquisition of Den Braven
02 December 2016Netherlands: Arkema has completed its acquisition of Den Braven, a producer of sealants for insulation and construction. Together with Arkema’s subsidiary Bostik, the purchase adds to the group’s presence in the sealant market around the world. The takeover is expected to add synergies of at least Euro30m.
"We are pleased to welcome the Den Braven teams. Their state-of-the-art technologies, first-class industrial facilities and know-how widely recognized by their customers are all assets that we will continue to develop and build upon within Bostik. We are confident that this new growth platform will support our very strong ambition in adhesives," said Vincent Legros, Executive Vice President of Bostik, a subsidiary of Arkema.
Installed Building Products buys East Coast Insulators
18 October 2016US: Installed Building Products has purchased East Coast Insulators, a provider of insulation services to residential and commercial customers in the Virginia, West Virginia, Washington DC and Maryland markets through two Virginia locations. "With US$20m of annual revenues, East Coast Insulators has a large presence within strong and growing markets, and this acquisition will help expand our presence in the mid-Atlantic region," said Jeff Edwards, chairman and chief executive officer of Installed Building Products.
Armacell buys PoliPex
12 October 2016Brazil: Armacell has purchased PoliPex, a Brazilian manufacturer of extruded polyethylene insulation foams, in a share deal for an undisclosed amount. The acquisition will strengthen Armacell´s product portfolio in Latin America and increases the domestic customer service levels, as well as, the support for regional original equipment manufacturers.
“PoliPex has decades of technology know-how in extruded polyurethane production as well as a strong domestic team. We are looking forward to serving our clients across Latin America with a broader product portfolio and extended customer service levels,” said Patrick Mathieu, President and CEO of Armacell International.
PoliPex produces extruded polyurethane insulation foams in Brazil and has approximately 80 employees. The company was founded by John Johannes van Mullem in 1991 and maintains its headquarters in Santa Catarina in the South of Brazil, as well as distribution centres in the South and the Northeast of the country. In the calendar year 2015 PoliPex generated revenues of approximately US$13m.
Hirsch Servo buys Romanian EPS insulation plants from Arcon
18 August 2016Romania: Hirsch Servo has bought the insulating material division of Arcon. The deal includes two expanded polystyrene (EPS) insulation production plants in Bucharest and Sfantu Gheorghe. No price for the transaction has been released. Hirsch Servo will become the second largest insulation producer in the country, following its purchase of the Energoterom insulation plant at Timisoara in July 2016.
TekhnoNicol president to buy Superglass
25 July 2016UK: Sergei Kolesnikov, president of construction materials producer TekhnoNicol, will acquire Superglass. Kolesnikov has made an offer of US$11.49m for the Scottish glass mineral wool insulation producer via his company Inflection based in Cyprus. The board of directors of Superglass unilaterally recommended approving the purchase proposal. The shareholders who own 63.5% in Superglass have already submitted irrevocable obligations to sell their stakes.
"This transaction and the commercial partnership between Superglass and TekhnoNicol, is a strategic opportunity for all parties, providing TekhnoNicol, with a presence in the UK and Irish insulation markets. We are impressed with Superglass' management team and look forward to working with them," said Sergei Kolesnikov, the sole shareholder of Inflection.
Saint-Gobain increases stake in Isoroc to 100%
02 June 2016Russia: Saint-Gobain has increased its share in the Tambov-based heat insulation producer Isoroc from 74.9% to 100%. The plant's capacity exceeds 100,000t/yr. The French company obtained permission from the Federal Antimonopoly Service to increase its share of Isoroc in late 2015.
Poland: Ineos Enterprises has agreed in principle to sell Ineos Styrenics, its expandable polystyrene (EPS) business, to Synthos for Euro80m. Completion of the transaction is likely to occur in the second half of 2016, subject to customary regulatory approvals.
Ineos Styrenics produces EPS for the building, construction and packaging industries at manufacturing sites at Wingles and Ribécourt in Northern France and Breda in the Netherlands. The three production sites are supported by its technology Centre in Breda. Customer Service, Logistics and Finance groups are also located in Breda. The business employs around 250 people who will transfer as part of this deal.
“The aim of the acquisition will be to provide the highest quality EPS to ensure that EPS remain the insulation material of choice for our customers.” said Tomasz Kalwat, CEO of Synthos.
Synthos S.A. is one of the largest manufacturers of chemical raw materials in Poland. The company is the first European manufacturer of emulsion rubbers and is a leading manufacturer of polystyrene for foaming applications. The Company is traded on the Polish stock exchange with its headquarters located in Oświęcim
Germany: Evonik Industries is acquiring the Performance Materials Division of Air Products and Chemicals for US$3.8bn. The products it is acquiring from Air Products include ingredients for insulation foams, sun lotion and paint as well as additives to harden aircraft and marine coatings. The transaction is intended to be completed by the end of 2016 subject to approval from relevant competition authorities.
“Evonik is already one of the leading producers of specialty & coating additives. Air Products’ Specialty & Coating Additives business perfectly complements this fast-growing segment. With this acquisition we are expanding our portfolio with precisely the right markets, products and innovations and continuing to invest in our growth and profitability,” said Klaus Engel, chief executive officer of Evonik Industries.
Air Products’ specialty and coating additives business will be integrated into the Nutrition & Care and Resource Efficiency segments of Evonik. The acquisition will also give Evonik a greater presence in North America, diversifying its markets outside of Europe. It also expects to generate savings of up to US$80m/year from the deal by 2020.
Installed Building Products buys Alpine Insulation
14 April 2016US: Installed Building Products, an installer of insulation and complementary building products, has purchased Alpine Insulation based in Sheboygan, Wisconsin with five operating locations throughout the state. Alpine provides installation services to the residential and commercial sectors.
"Alpine represents a compelling opportunity for us to enhance our presence in Wisconsin through a complementary business with strong local brands, exceptional customer loyalty and a strong management team. This acquisition brings our total acquired revenue in 2016 to approximately US$44m, as we remain focused on selectively acquiring market-leading installers in highly attractive markets," said Jeff Edwards, chairman and chief executive officer of Installed Building Products.
Saint-Gobain to raise share in Isoroc company to 100%
30 December 2015Russia: Saint-Gobain has obtained the Federal Antimonopoly Service's permission to purchase 74.9% of the voting shares in the heat insulation materials producer Isoroc, based in Tambov Oblast. When the sale completes the French company will own 100% of Isoroc.