Insulation industry news from Global Insulation

US: Installed Building Products' (IBP) net revenue grew by 29.3% year-on-year to US$182m in the third quarter of 2015. Same-branch sales increased by 8.4%, attributable to higher volume, price gains and a more favourable project mix. Operating income increased by 43.2% to US$15.5m.

In July 2015, Installed Building Products acquired Stamford, Connecticut-based EcoLogic Energy Solutions, enhancing the company's presence in the Connecticut, New York and Northern New Jersey markets. In August 2015, it acquired New Jersey-based Eastern Contractor Services, operating as Parker Insulation and Building Products in Southeastern Texas, enhancing its presence in New Jersey, the New York metropolitan area and Texas.

"We successfully executed our growth-oriented business strategy in the third quarter of 2015, which continues to produce strong financial results," said Jeff Edwards, Chairman and CEO. "Revenues grew by US$41m, or 29.3%, for the 2015 third quarter as a result of a US$11.7m increase in organic revenues and a US$29.4m increase in revenues from recent acquisitions. The housing market continues to recover in 2015 driven by growth in housing permits, starts, and completions. During the third quarter of 2015, we continued to increase sales organically, above the pace of single-family completions. Acquisitions remain an important part of our business strategy and during 2015 we have acquired US$85m of annual revenues, which are quickly contributing to both revenues and earnings."

US: Johns Manville (JM) was recently honoured with the 24-Karat Gold Challenge Award by the Colorado Department of Public Health and Environment for 'above and beyond' efforts in creating and implementing a programme that has made a measurable contribution to the environment, the economy and society. JM was nominated to receive the award by 97 Gold Leader peer companies within the Environmental Leadership Programme.

The Environmental Leadership Programme, administered by the Colorado Department of Public Health and Environment, recognises organisations that go beyond compliance with environmental regulations and strive toward a goal of sustainability. Members work through three levels of partnership: Bronze, Silver and Gold. Programme membership stands at 160 organisations, representing a variety of sectors from manufacturing and agriculture to schools and service providers.

JM was presented with the 24-Karat Gold Challenge Award at an annual awards dinner on 16 October 2015. It won the award thanks to recent activities at the Johns Manville / Industrial Insulation Group manufacturing facility in Fruita, Colorado. Staff reinvented, redesigned and reconstructed its manufacturing process, resulting in the elimination of approximately 863t/yr of material from landfill waste by diverting that material into a new energy-conserving product stream. As a result, the facility eliminated 40 years of reliance on a 12,141m2 waste impoundment complex. Additionally, the product made from this reclaimed material is conservatively estimated to reduce end user CO2 emissions by over 270,000t/yr of CO2.

According to Fred Stephan, Senior Vice President of JM's Insulation Systems business, a team of employees from Fruita and Denver proposed and implemented the changes and truly exceeded everyone's expectations. "The team really did an outstanding job," said Stephan. "In the process of meeting our environmental requirements, they were able to make our manufacturing process more efficient and productive. Their hard work, as well as their perseverance, has been very impressive."

US: Having outgrown its offices in Mebane, North Carolina, insulation manufacturer Armacell is relocating its American headquarters to Chapel Hill, North Carolina.

Armacell's Americas headquarters has been located in Mebane for the past 15 years. The company produces insulation materials used in fire protection, product padding and noise control products. Its parent company, Armacell International Holding GmbH, is based in Germany.

Jodi Cheek, General Manager of Human Resources for Armacell's Americas region, said that the move would free up space in the Mebane facility for its customer service, research and development and technical support staff. Armacell's Mebane facility encompasses more than 444,000ft² of building space, including a manufacturing facility, warehouse, research and development space and offices.

Iran: China National Building Material Company (CNBM) and the Industrial Development and Renovation Organisation of Iran, affiliated with the Industries Ministry, have signed a US$74m contract to build a 30,000t/yr fibreglass and composite manufacturing plant in Marand, East Azarbaijan Province. The capacity could be tripled if Tehran is satisfied with the performance of the Chinese company. As much as US$50m of the capital needed for equipment imports will be financed by Chinese banks while Tehran will provide the rest of the capital covering procurement of domestically-made equipment and construction costs. The project is scheduled to complete in 24 months.

Bulgaria: Bulgarian insulation materials producer Hydroizomat said that its net loss rose to Euro613,600 in the first nine months of 2015 from Euro92,201 in the same period of 2014. Its operating loss jumped to Euro511,219 from Euro29,708 in the year-ago period. The company's total revenue plunged to Euro226,908 in the first nine months of 2015 from Euro482,499 in the same period of 2014.