Insulation industry news from Global Insulation

Argentina: The Ministry of Economy has removed anti-dumping tariffs imposed upon imports of glass wool from Mexico. The decision follows an investigation requested by Saint-Gobain, according to Forbes. The government placed a tariff of 67% on the products in 2012 and this was later renewed in 2018 at the prompting of Saint-Gobain Argentina. Reportedly Saint-Gobain reached a glass wool capacity utilisation rate of 93% in 2023 and the company covers two-thirds of the market.

France: Saint-Gobain’s sales dropped by 6.4% year-on-year to €51bn in 2023. Meanwhile, the group’s earnings before interest, taxation, depreciation and amortisation (EBITDA) dropped by 1.7% year-on-year to €7.12bn. Despite this, it achieved average organic growth of 6.4% across its markets, buoyed by sustainable solutions, which accounted for 75% of its sales. Throughout the year, Saint-Gobain invested €223m in capital expenditure and research and development, in line with rising internal carbon prices. This contributed to a 34% reduction in its Scope 1 and 2 CO₂ emissions compared to 2017 levels. The company used 57% renewable electricity in 2023, compared to 52% in 2022, and concluded eight new renewable energy supply deals. It aims to reach 66% renewables by 2025.

Australia: France-based Saint-Gobain has submitted a non-binding indicative offer of US$5.44bn for building materials producer and land banking entity CSR. CSR’s businesses include insulation producer Bradford, fibre cement systems producer Cemintel, wallboard producer Gyprock, autoclaved aerated concrete (AAC) block producer Hebel and roofing producer Monier. Together, CSR’s building materials units accounted for 72% of its sales in 2023.

US: Saint-Gobain has acquired the business assets of speciality insulation products company International Cellulose Corporation (ICC). Saint-Gobain said that the acquisition strengthens its leadership in light and sustainable construction. ICC will become part of Saint-Gobain subsidiary CertainTeed's Commercial Building and Infrastructure business. ICC employs 50 people at its plant in Houston, Texas.

Saint-Gobain North America and CertainTeed president and CEO Mark Rayfield said “With plant fibre-based spray insulation products that allow commercial spaces to be more energy efficient, safe and comfortable, ICC is a perfect fit for Saint-Gobain North America. I look forward to welcoming the ICC team to the Saint-Gobain family and working together to meet our sustainability goals and our purpose: Making the World a Better Home.”

Italy: Saint-Gobain has entered into a 10-year power purchase agreement (PPA) with Switzerland-based utilities provider Axpo Holding. Under the agreement, Axpo Holding will supply 22GWh/yr of renewable electricity from a newly built wind farm in Puglia. The deal will fulfil 11% of Saint-Gobain's Italian energy needs across 10 sites.

The latest PPA with Axpo Italia is Saint-Gobain's fifth in Italy. Collectively, these will bring the group’s reliance on renewables in its Italian operations to 20%.

France: Saint-Gobain subsidiary Isonat is investing Euro10m in a capacity expansion to its Mably insulation wood fibre insulating panels plant. French Collection News has reported that the expansion will double the plant’s capacity to 42,000t/yr. The company says that it aims to double its sales in two years. It noted growing demand for bio-sourced materials and the availability of favourable home renovations subsidies.

UK: France-based waterproofing and insulation group Soprema has agreed to acquire a 75% stake in Celotex. Dow Jones Institutional News has reported that Celotex is presently a subsidiary of Soprema’s fellow France-based conglomerate Saint-Gobain. After completion of the deal in early 2024, Saint-Gobain says that it will retain a 25% stake in Celotex.

Celotex controls the Ipswich polyisocyanurate (PIR) insulation plant in Suffolk.

India: France-based Saint-Gobain has acquired waterproofing systems producer Menkol Industries. Menkol Industries operates a high-density polyethylene (HDPE) products plant in the Kinfra Industrial And Textile Park in Kanjikkode, Kerala.

Sweden: Saint-Gobain Ecophon has entered into a deal to acquire wood wool products company Träullit. Saint-Gobain Ecophon said that the acquisition will complete its existing portfolio of wall and ceiling products.

Saint-Gobain Ecophon CEO Pierre-Emmanuel Thiard said “Träullit has a Swedish legacy to be proud of, and we are happy to start a new journey together to develop this offer. The integration with Ecophon will broaden Träullit’s current sales focus from Scandinavia into further European markets and accelerate growth thanks to Ecophon’s complete solution portfolio and experienced research and development division.”

Saudi Arabia: France-based Saint-Gobain agreed to buy waterproofing products company Izomaks Industries on 13 November 2023. Izomaks Industries employs 140 people across its two plants. Solradin News has reported that Saint-Gobain has been active in the Saudi Arabian insulation business since 2007.