Insulation industry news from Global Insulation
Kingspan Czechia’s sales drop in 2023
23 July 2024Czech Republic: Kingspan Czechia’s sales dropped by 22% year-on-year to €142m in 2023. Its profit also declined, by 42% to €6.27m. Throughout the year, the company produced 4.66Mm2 of insulation panels, down by 4% from 2022 volumes. It reported total export sales of €108m, down by 23%. The main markets for the producer’s insulation were Germany, Austria, Switzerland and Slovakia. It holds a 25% market share in insulation sandwich panels in its native Czech Republic, up from 22% at the start of 2023. ČTK Business News has reported that Kingspan Czechia plans to begin construction of a new mineral wool insulation panels plant later in 2024.
General manager Stanislav Cihlar said "The new plant will be used to produce world-class insulation panels and will become an important pillar for our future growth.”
Sweden: Rockwool says that it plans to build a new 100,000t/yr stone wool insulation plant in Eskilstuna, Södermanland. When commissioned after June 2027, the plant will serve the Swedish and Finnish markets. It will run on low-carbon electricity from Sweden’s national grid.
Nordics regional managing director Frank Larsen said "Our customers are increasingly demanding low-carbon footprint building materials to achieve their own decarbonisation objectives as well as EU-wide targets in the Energy Efficiency and Energy Performance of Buildings directives. Rockwool's proprietary large-scale electrical melting technology, drawing on Sweden's abundant supply of low-carbon electricity, will help meet this need, which we expect to grow over time as the EU directives get implemented."
Sto publishes 2024 full-year outlook
02 May 2024Germany: Sto has published its outlook for 2024, after recording ‘below target’ turnover in the first quarter of the year. The producer attributed this to adverse weather conditions in January 2024 and reduced working days in March 2024. For the full year, it now expect to record a turnover of €1.79bn and earnings before interest and taxes (EBIT) of €113 – 138m. It noted particular on-going ‘major challenges’ in its domestic German market.
South Korean EPS sandwich panel standards suspended
12 March 2024South Korea: The Ministry of Land, Infrastructure and Transport has suspended the Korea Foamed Plastic Industry Cooperative’s standard for expanded polystyrene (EPS) insulating sandwich panels. The standard had been certified by the Korea Institute of Civil Engineering and Building Technology. Maeil Business Newspaper has reported that the suspension is part of a regulatory revision in the interest of fire safety. The value of the South Korean EPS sandwich panel industry is US$1.37bn/yr.
The Korea Foamed Plastic Industry Cooperative said “With a severe shortage of certification agencies, it takes over a year to obtain certification. This is tantamount to telling small businesses to shut down.”
NIA and AMPP sign joint standards development agreement
08 March 2024US: The National Insulation Association (NIA) and the Association for Materials Protection and Performance (AMPP) have signed a Joint Standards Development Agreement. The agreement establishes a unified mechanical insulation standards programme.
NIA CEO Michele Jones said “This partnership represents a significant milestone for the NIA and the broader insulation industry. By aligning our efforts with AMPP, we’re not just setting new standards but driving standardisation and efficiency in insulation applications across various sectors. This collaboration is a step forward in our commitment to sustainability, decarbonisation, safety and enhancing the value insulation brings to the global market.”
Etex records sales and earnings growth in 2023
07 March 2024Belgium: Etex reported sales of €3.81bn in 2023, up by 2.5% from 2022 levels. The company's recurring earnings before interest, taxation, depreciation and amortisation (REBITDA) rose by 10% to €712m. It also raised its capital expenditure for the year, to €371m. Etex used 47% recycled polystyrene in its operations throughout the year. In mid-2023, Etex exited Russia through the sale of two URSA insulation sites. The group is also ‘actively preparing’ to help rebuild Ukraine as soon as conditions permit.
CEO Bernard Delvaux said “Even more so than 2022, 2023 was a challenging year marked by volatility, uncertainty and severe drops in demand across the world, as we observed the continued impacts of increased energy prices and interest rates. Combined with tougher financing possibilities by banks, all these circumstances meant that both renovation and new construction levels dropped globally. Devaluation of some foreign currencies and hyperinflation accounting also had significant effects on our results. Despite all these challenges, I am extremely proud to share that Etex navigated these difficult waters very well and delivered yet again another record year. This includes our highest ever revenue and REBITDA, among others. This strong performance stems from our anticipation in making strategic decisions and changes at global, regional and local levels, ensuring continued proximity with our customers. This is also a result of even tighter cost monitoring in 2023, without ever losing sight of our long-term ambitions and continuing to improve our strong industrial footprint.”
Soprema announces upcoming Sausheim insulation plant
29 January 2024France: Soprema plans to begin building a new polyurethane (PU) insulation plant at Sausheim, near Mulhouse, in mid-late 2024. The producer says that it will invest Euro50m and enter production at the upcoming plant in 2026. When operational, the Sausheim insulation plant will complement Soprema’s existing Saint-Julien-du-Sault and Nîmes plants, and serve Grand Est, Austrian, Germany and Switzerland. The plant will generate 80 direct jobs and a similar number again of indirect jobs.
Isonat to expand Mably wood fibre insulation panels plant
26 January 2024France: 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.
Kingspan cleared to acquire 51% Steico stake
20 November 2023Germany: EU competition authorities have approved Ireland-based Kingspan’s acquisition of a 51% majority stake in wood fibre insulation producer Steico. Kingspan concluded the deal with wood products company Schramek in July 2023, and expects to complete its acquisition of the stake in early January 2024.
Swisspor Group to acquire BriothermXPS
14 November 2023Romania: Switzerland-based Swisspor Group has concluded a deal to acquire extruded polystyrene (XPS) insulation producer BriothermXPS. BriothermXPS sells its insulation across Central and Southeast Europe. Swisspor Group thanked its deal coordinator Concilium Consulting for helping it to conclude the agreement ‘despite a challenging market environment and complex transaction structure.’