Insulation industry news from Global Insulation
US: Johns Manville (JM) has earned a significant rebate from Energizing Indiana, Richmond Power & Light (RP&L) and the Indiana Municipal Power Agency (IMPA) for energy-efficiency improvements to its Richmond Insulation Systems facility in Indiana.
Through its participation in Energizing Indiana's Commercial & Industrial Prescriptive Rebate Programme, JM received a US$68,554 rebate for implementing energy-efficient lighting improvements designed to help the facility reduce its energy usage and promote cost savings. The rebate is the largest issued thus far to any of IMPA's 59 member communities involved in the Energizing Indiana programme. The retrofit project cut the facility's lighting energy consumption by approximately 80% and reduced greenhouse gas emissions by more than 1800t/yr of carbon dioxide, over 9t/yr of sulfur dioxide, and approximately 2.25t/yr of nitrogen oxide.
Zane Carpenter, JM's manager for Energy Engineering, said that the project is a good example of JM's commitment to sustainability, saying, "This retrofit project provides a reduction in energy usage that helps the utility curtail the need to add capacity to the grid. It helps reduce greenhouse gas emission derived from electricity production. It helps the community by injecting money into the economy and putting people to work, including the lighting designers, manufacturers and local contractors. It also helps the business maintain a healthy bottom line by reducing overall operating costs. It's really a win for the company, the community, the utility and the environment."
Owens Corning profit rises by 5% in Q2 2013
25 July 2013US: Owens Corning has reported a rise in adjusted earnings of 5% to US$69m in the second quarter of 2013 compared to US$67m in the same period of 2012.
The company's consolidated net sales fell slightly to US$1.35bn from US$1.39bn. The building materials manufacturer's adjusted earnings before interest and taxation (EBIT) improved by 6% to US$124m in the second quarter of 2013 from US$17m in the same period in 2012. Also of note in the quarter, in June 2013 Owens Corning acquired Thermafiber, a mineral wool insulation manufacturer.
"We are pleased with our progress in the second quarter and the first half of 2013, with strong margin performance in our Roofing business, price increases and operating leverage in Insulation and improved performance in Composites," said chairman and chief executive officer Mike Thaman.
In its outlook the company expected profitability to improve in 2013 compared to 2012 due to company action, an improving US housing market and moderate global growth. The company expects stronger insulation volumes in the second-half of 2013 driven by residential construction, high capacity utilisation and improved pricing.
US: Owens Corning has met all seven of its self-declared environmental footprint goals, the company announced as it released its seventh Sustainability Report. The fibre-glass manufacturer is now reporting against its 2020 goals.
"Our accomplishments are representative of the progress we have made this past year, but we clearly recognise that we have much more to do on the path to becoming a more sustainable, and preferably, a net-positive company," said Vice President and Chief Sustainability Officer Frank O'Brien-Bernini. "Across our company, these goals inspire innovation, creativity, external collaboration and broad engagement."
Progress towards the 2020 goals include the completion of several greenhouse gas reduction projects whilst preparing for others, including diesel-to-natural gas transportation fuel-switching, fuel cells, waste heat recovery, biomass, solar, and combined heat and power. The company has partnered with the World Resources Institute on its Aqueduct project to conduct a global water stress assessment of Owens Corning's global operations and completed several successful major water use reduction projects in stressed areas. It has released the first Environmental Product Declarations (EPD) for fibreglass insulation in North America. It has also highlighted sustainability expectations in its Supplier and Employee Code of Conducts.
Owens Corning appoints Edward Lonergan to board
18 June 2013US: Owens Corning has appointed Edward Lonergan, the CEO of Chiquita, to its board of directors. The appointment is effective from 18 September 2013.
"We welcome Ed to our board of directors," said Owens Corning chairman and chief executive officer Mike Thaman. "His global experience and strong commercial background make him a valuable addition to the board. We are delighted to have recruited such an outstanding director."
Lonergan was named CEO of Chiquita in 2012 and currently serves on the company's board of directors. Chiquita is a leading international marketer and distributor of bananas, packaged salads and other fresh produce. He previously served as director, president and CEO of Diversey, a leading global provider of sustainable cleaning, sanitation and hygiene solutions, from February 2006 through the sale of the company to Sealed Air Corporation in October 2011.
Lonergan has also held positions at the Gillette Company and Procter & Gamble from 1981 to 2002. He is a graduate of Union College in Schenectady, New York.
Roxul starts building Mississippi plant
09 May 2013US: Roxul, a subsidiary of Denmark-based Rockwool International, has officially broken ground on its US$160m, 183,000m2/yr mineral wool plant in Byhalia, Mississippi. The facility, which was announced in June 2012, will create 150 jobs when it is completed in 2014. The location will be Roxul's first plant outside of Canada.
"Rockwool and Roxul are delighted to be locating and constructing our first United States plant and believe that this will enable us to meet the growing demand for our stone wool insulation product," said president of Roxul, Trent Ogilvie in a statement. He added that the company had analysed several possible sites in the south-eastern US before selecting Byhalia.
Owens Corning reports return to profit in Q1
25 April 2013US: Owens Corning has reported consolidated net sales of US$1.3bn in the first quarter of 2013, little change from the same period of 2012. However, the company reported net earnings of US$22m in the first quarter of 2013, compared to a net loss of US$46m in 2012.
"Insulation demonstrated strong price execution and is on track for full-year profitability and double-digit revenue growth in 2013," said chairman and chief executive Officer Mike Thaman. He added that the company remains reliant on
the pace of the US housing recovery and its impact on the margin performance of the Building Materials businesses for future performance.
For its outlook Owens Corning expects at least US$100m in adjusted earnings before interest and tax (EBIT) improvement over 2012 as a result of company actions, an improving US housing market and moderate global growth. It said that the insulation sector will continue to benefit from the growth in US residential new construction, higher asset utilisation rates and better pricing.
Californian bill threatens foam insulation use
12 April 2013US: A proposed Californian state legal bill threatens to phase out potentially toxic flame-retardants in foam insulation. The chemical industry has opposed the bill arguing that the move jeopardises energy-efficiency measures and doesn't take into account forthcoming legislation.
The sponsor of the bill, the US Green Building Council of California, said in a supporting letter that the bill is necessary because the adverse effects on health by halogenated organic compounds in flame-retardants are well documented.
However, the American Chemistry Council (ACC) has stated that the bill will unnecessarily circumvent the Department of Toxic Substances Control's forthcoming green chemistry regulations, which will identify potentially problematic chemicals in consumer products. The ACC added that, "Since buildings account for an estimated 36% of total energy use and 30% of greenhouse gas emissions in the United States, California should be encouraging, not discouraging, the use of energy-saving building materials."
The bill is scheduled to be heard by the Assembly Natural Resources Committee on 29 April 2013.
Johns Manville publishes 2012 sustainability report
03 April 2013US: Johns Manville (JM), the global manufacturer of energy-efficient building products, has announced the publication of its 2012 Sustainability Report, 'We Build Environments.'
"We intend to capitalise on our commitment to sustainability to ensure that we are better prepared to meet both the opportunities and challenges of our dynamic world and that we continue to deliver safe products that delight our customers," said Mary Rhinehart, JM president and CEO. The 2012 report includes 18 fully reported performance indicators applying the Global Reporting Initiative 3.1 guidelines.
Key indicators from JM's 2012 performance summary for the insulation market include a 19% increase of average fibreglass insulation compared to 2011. Total energy use for the company rose by 0.9% and total production fell by 0.4%.
Clarke re-joins Johns Manville as chief finance officer
26 March 2013US: Johns Manville (JM), a Berkshire Hathaway company and global building products manufacturer, has announced that it has hired H MacGregor (Greg) Clarke, aged 52, as Senior Vice President and Chief Financial Officer, effective from 4 April 2013. In this role Clarke will be responsible for JM's global finance and supply chain organisations.
"The position has been vacant since November (2012) when I accepted my current role," said Mary Rhinehart, JM president and CEO. "We took our time to ensure we found exactly the right person to fill this key position."
Clarke most recently was CFO of AeroGrow International, Inc. in Boulder, Colorado. Prior to that he was president and CEO of Ankmar, LLC, and earlier in his career held financial leadership and strategic planning roles with The Coleman Company, Inc., PepsiCo, Inc., and Manufacturers Hanover Trust Company. From 1997 to 2002 Clarke was Director of Finance for JM's Insulation Group, followed by vice president and general manager for JM's Building Insulation and Commercial & Industrial Insulation Divisions.
"We are excited to welcome Greg back to Johns Manville and to add his talents, experience and leadership to the company," said Rhinehart. "He will be critical to driving many of our key initiatives and business strategies for our future. I look forward to re-introducing him to our employees, customers, suppliers and other key stakeholders."
US/Japan: Huntsman Corporation has announced that it has acquired a 20% stake in Nippon Aqua, a spray polyurethane foam (SPF) insulation company based in Yokohama, Japan. The chemical manufacturer has entered into a ten-year supply agreement with the company. The financial terms of the deal were not disclosed.
Nippon Aqua is the SPF market leader in Japan, with business operations in over 30 locations across the country, and is a subsidiary of leading residential home builder Hinokiya Holdings. Huntsman supplies various advanced MDI-based polyurethanes systems to Nippon Aqua.
"Following the regrettable accident at the Fukushima Daiichi nuclear plant in 2011, there's a great focus on how the country will source its energy needs and a growing demand amongst consumers for more effective insulation. Nippon Aqua is well-positioned to satisfy this demand," said Huntsman's president of its polyurethanes division, Anthony P Hankins.