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Huntsman shares first quarter 2020 results

Written by Global Insulation staff
05 May 2020

US: Huntsman’s first quarter net income was US$708m in 2020, up by 440% year-on-year from US$131m in 2019. It made sales worth US$1.59bn over the period, down by 4.6% year-on-year from US$1.67bn in the corresponding period of 2019. Polyurethane (PU) insulation sales decreased slightly due to ‘decreased demand across most major markets, partially offset by modest growth in polyisocyanurate (PIR) insulation sales volumes.

Huntsman chair, president and CEO Peter Huntsman said, “We have been well-prepared for this global economic crisis. Our balance sheet is stronger than ever before, with significant cash and robust liquidity. Having learned from prior crises, we pre-emptively reduced unnecessary inventories and are reducing capital spending this year by 30%, or approximately $90m, by delaying discretionary spending.”

Published in Global Insulation News
Tagged under
  • Huntsman
  • US
  • Results
  • Sales
  • profit
  • Polyurethane
  • polyisocyanurate
  • coronavirus
  • GGM46

Owens Corning publishes first quarter 2020 results

Written by Global Insulation staff
30 April 2020

US: Owens Corning has recorded a first quarter loss of US$916m in 2020, compared to a US$44.0m profit in the corresponding period of 2019. Net sales were US$1.60bn, down by 4.0% from US$1.67bn. Insulation sales grew by 2.0% to US$603m (38% of net sales) from US$591m. The insulation section’s negative balance of earnings before interest, taxation, depreciation and amortisation (EBITDA) decreased by 71% to US$10.0m US$34.0m.

Owens Corning chairman and CEO Brian Chambers said, “I’m very proud of our team’s strong execution and ability to deliver our first-quarter results in the face of the Covid-19 pandemic. Our long-standing commitment to safety remains at the forefront of everything we do while serving the needs of our customers, our communities, and other key stakeholders.”

Published in Global Insulation News
Tagged under
  • US
  • Owens Corning
  • Results
  • Sales
  • Insulation
  • division
  • coronavirus
  • earnings before interest, taxation, depreciation and amortisation
  • safety
  • GGM46

Recticel’s first quarter sales fall by 6.2% in 2020

Written by Global Insulation staff
29 April 2020

Belgium: Recticel has recorded sales of Euro298m in the first quarter of 2020, down by 6.2% year-on-year from Euro318m in the corresponding period of 2019. Recticel said that sales in the first two months of 2020, “remained in line with the previous year despite the impact of the coronavirus crisis on sales and operations in China.” Sales in March 2020 fell by 17% month-on-month, “due to the outbreak and the resulting governmental lockdown measures in most countries.” Insulation sales fell by 2.9% to Euro60.7m Euro62.5m. Recticel said, “Lockdown measures led to a reduction of construction activities as of mid-March 2020. Our insulation plants continued (reduced) operations in all countries except in France where construction activity was halted since mid-March 2020.”

Published in Global Insulation News
Tagged under
  • Belgium
  • Recticel
  • Results
  • Sales
  • coronavirus
  • government
  • construction sector
  • suspension

Owens Corning publishes sustainability report 2019

Written by Global Insulation staff
28 April 2020

US: In 2019 Owens Corning sourced 1.58GWh of energy renewably (49% of total consumption), down by 14% year-on-year from 1.84GWh (52% of consumption) in 2018. Direct CO2 emissions were 2.78Mt, down by 2.0% from 2.83Mt in 2018 due a reduction in carbon intensity of insulation production, such as the use of electric rather than coke-fired furnaces.

Published in Global Insulation News
Tagged under
  • US
  • Owens Corning
  • Sustainability
  • Report
  • Energy Saving
  • CO2
  • emissions
  • renewable energy

Saint-Gobain Isover donates products for coronavirus field hospital

Written by Global Insulation staff
23 April 2020

Spain: Saint-Gobain Isover has donated Climaver Star mineral wool insulation for use in the construction of the coronavirus field hospital at La Zarzuela University Hospital in Madrid.

On 23 April 2020 Spain’s confirmed coronavirus case count was 213,024, with 22,157 deaths.

Published in Global Insulation News
Tagged under
  • Spain
  • SaintGobain
  • Isover
  • coronavirus
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