Company News
June 22, 2022
More Spray Foam Consolidation
Owens Corning to Acquire Spray Foam Manufacturer Natural Polymers
Transaction complements company’s core insulation product offering to accelerate growth and expand addressable markets June 21, 2022 07:30 AM Eastern Daylight Time
TOLEDO, Ohio–(BUSINESS WIRE)–Owens Corning (NYSE: OC) announced today that it has signed an agreement to acquire Natural Polymers, LLC, an innovative manufacturer of spray polyurethane foam insulation for building and construction applications, based in Cortland, Illinois. The transaction is subject to regulatory approvals and other customary conditions and is anticipated to close in the third quarter.
“This acquisition advances Owens Corning’s strategy to strengthen our core building and construction products and expand our addressable markets into higher-growth segments,” said Todd Fister, president of Owens Corning’s Insulation business. “Natural Polymers’ proven technology enables us to offer our customers a more diversified insulation product portfolio and solidify our commitment to provide long-term, sustainable solutions.”
Natural Polymers is dedicated to the development of high-quality products and systems, offering some of the lowest-volatile organic compound products available in the spray foam industry today. Many of the business’ products are GREENGUARD Gold Certified by Underwriter’s Laboratories – a third party standard set to help reduce indoor air pollution and the risk of chemical exposure.
“Over the last several years, we’ve seen many advancements in the overall spray foam industry, from standardized installer training to product enhancements that make the material a much more attractive solution,” said Mr. Fister. “Natural Polymers’ focus on product development provides Owens Corning with a foundation upon which we can use our material science knowledge to drive innovation and differentiate the business.”
Natural Polymers expects to deliver sales of approximately $100 million in 2022. The business has demonstrated a strong track record of above-market growth and is expected to continue to achieve double-digit growth over the next several years.
Benjamin Brown, President and Chief Executive Officer of Natural Polymers, stated, “I am excited by this transaction and believe Owens Corning is best suited to accelerate the business’ growth, benefiting our customers and supporting our vision to build the best spray polyurethane foam brand in the industry. Together, I believe we have the best people, technology, and capabilities.”
Upon close, Mr. Brown will join Owens Corning in an innovation leadership role.
Financial terms of the deal were not disclosed.
About Owens Corning
Owens Corning is a global building and construction materials leader committed to building a sustainable future through material innovation. Our three integrated businesses – Composites, Insulation, and Roofing – provide durable, sustainable, energy-efficient solutions that leverage our unique material science, manufacturing, and market knowledge to help our customers win and grow. We are global in scope, human in scale with approximately 20,000 employees in 33 countries dedicated to generating value for our customers and shareholders, and making a difference in the communities where we work and live. Founded in 1938 and based in Toledo, Ohio, USA, Owens Corning posted 2021 sales of $8.5 billion. For more information, visit www.owenscorning.com.
June 22, 2022
More Spray Foam Consolidation
Owens Corning to Acquire Spray Foam Manufacturer Natural Polymers
Transaction complements company’s core insulation product offering to accelerate growth and expand addressable markets June 21, 2022 07:30 AM Eastern Daylight Time
TOLEDO, Ohio–(BUSINESS WIRE)–Owens Corning (NYSE: OC) announced today that it has signed an agreement to acquire Natural Polymers, LLC, an innovative manufacturer of spray polyurethane foam insulation for building and construction applications, based in Cortland, Illinois. The transaction is subject to regulatory approvals and other customary conditions and is anticipated to close in the third quarter.
“This acquisition advances Owens Corning’s strategy to strengthen our core building and construction products and expand our addressable markets into higher-growth segments,” said Todd Fister, president of Owens Corning’s Insulation business. “Natural Polymers’ proven technology enables us to offer our customers a more diversified insulation product portfolio and solidify our commitment to provide long-term, sustainable solutions.”
Natural Polymers is dedicated to the development of high-quality products and systems, offering some of the lowest-volatile organic compound products available in the spray foam industry today. Many of the business’ products are GREENGUARD Gold Certified by Underwriter’s Laboratories – a third party standard set to help reduce indoor air pollution and the risk of chemical exposure.
“Over the last several years, we’ve seen many advancements in the overall spray foam industry, from standardized installer training to product enhancements that make the material a much more attractive solution,” said Mr. Fister. “Natural Polymers’ focus on product development provides Owens Corning with a foundation upon which we can use our material science knowledge to drive innovation and differentiate the business.”
Natural Polymers expects to deliver sales of approximately $100 million in 2022. The business has demonstrated a strong track record of above-market growth and is expected to continue to achieve double-digit growth over the next several years.
Benjamin Brown, President and Chief Executive Officer of Natural Polymers, stated, “I am excited by this transaction and believe Owens Corning is best suited to accelerate the business’ growth, benefiting our customers and supporting our vision to build the best spray polyurethane foam brand in the industry. Together, I believe we have the best people, technology, and capabilities.”
Upon close, Mr. Brown will join Owens Corning in an innovation leadership role.
Financial terms of the deal were not disclosed.
About Owens Corning
Owens Corning is a global building and construction materials leader committed to building a sustainable future through material innovation. Our three integrated businesses – Composites, Insulation, and Roofing – provide durable, sustainable, energy-efficient solutions that leverage our unique material science, manufacturing, and market knowledge to help our customers win and grow. We are global in scope, human in scale with approximately 20,000 employees in 33 countries dedicated to generating value for our customers and shareholders, and making a difference in the communities where we work and live. Founded in 1938 and based in Toledo, Ohio, USA, Owens Corning posted 2021 sales of $8.5 billion. For more information, visit www.owenscorning.com.
June 22, 2022
Firestone Parent Acquires SES Foam
Holcim to acquire SES roofing and insulation business
EQS Group Jun. 22, 2022, 03:04 AM
| Holcim Group Services Ltd / Key word(s): Acquisition Holcim to acquire SES roofing and insulation business 22.06.2022 / 09:04 Acquisition to expand Holcims roofing and insulation business Proven double-digit growth engine in the highly profitable US spray foam insulation market Annual sales of USD 200 million for 2022 Highly regarded brand for sustainable new builds and green retrofitting projects Accelerates Holcims growth in Solutions & Products in the US Holcim has entered into an agreement to acquire SES Foam LLC, the biggest independent spray foam insulation company in the US with 2022 (est.) Net Sales of USD 200 million. SES has a track record of double-digit growth, with advanced energy-efficiency and bio-based solutions for new and green retrofitting projects. This transaction adds to Holcims recent acquisitions, from Firestone Building Products to Malarkey, taking its Proforma 2022 Net Sales in roofing and insulation business to USD 3.5 billion. Jamie Gentoso, Head Solutions & Products: This is another exciting step in the expansion of Solutions & Products, advancing our Strategy 2025 Accelerating Green Growth. SES has a proven track record of growth and innovation in thermal insulation with a focus on more sustainable solutions, making them highly complementary to our roofing and insulation business. “We look forward to warmly welcoming all SES employees into Holcim and to invest in our next era of growth together, with a continued focus on innovation and sustainability. Holcims commitment to innovation, superior execution and global resources provide an attractive platform from which to continue to deliver profitable growth”, said Charles Valentine, Chief Executive Officer and President of SES. “We are excited about our future together.” Founded in 2009 and based in Spring, Texas, SES has a history of innovation with solutions like SucraSeal®, the first sucrose-based spray foam insulation to be certified by the US Department of Agriculture for its high bio-based content. SES offers superior products that improve buildings energy-efficiency and thermal comfort, while lowering their carbon footprint. The company stands out for its value-added services to contractors, including onsite technical instruction, business consulting, branding and lead generation support. This acquisition advances Holcims Strategy 2025 Accelerating Green Growth with the goal to expand its Solutions & Products business to 30% of Group Net Sales by 2025. It expands Holcims reach in the attractive insulation, as well as repair and refurbishment markets. About Holcim Holcim builds progress for people and the planet. As a global leader in innovative and sustainable building solutions, Holcim is enabling greener cities, smarter infrastructure and improving living standards around the world. With sustainability at the core of its strategy Holcim is becoming a net zero company, with its people and communities at the heart of its success. The company is driving circular construction as a world leader in recycling to build more with less. Holcim is the company behind some of the worlds most trusted brands in the building sector including ACC, Aggregate Industries, Ambuja Cement, Disensa, Geocycle, Holcim, Lafarge and Malarkey Roofing Products. Holcim is 70,000 people around the world who are passionate about building progress for people and the planet through four business segments: Cement, Ready-Mix Concrete, Aggregates and Solutions & Products. Learn more about Holcim on www.holcim.com, and by following us on LinkedIn and Twitter. |
June 22, 2022
Firestone Parent Acquires SES Foam
Holcim to acquire SES roofing and insulation business
EQS Group Jun. 22, 2022, 03:04 AM
| Holcim Group Services Ltd / Key word(s): Acquisition Holcim to acquire SES roofing and insulation business 22.06.2022 / 09:04 Acquisition to expand Holcims roofing and insulation business Proven double-digit growth engine in the highly profitable US spray foam insulation market Annual sales of USD 200 million for 2022 Highly regarded brand for sustainable new builds and green retrofitting projects Accelerates Holcims growth in Solutions & Products in the US Holcim has entered into an agreement to acquire SES Foam LLC, the biggest independent spray foam insulation company in the US with 2022 (est.) Net Sales of USD 200 million. SES has a track record of double-digit growth, with advanced energy-efficiency and bio-based solutions for new and green retrofitting projects. This transaction adds to Holcims recent acquisitions, from Firestone Building Products to Malarkey, taking its Proforma 2022 Net Sales in roofing and insulation business to USD 3.5 billion. Jamie Gentoso, Head Solutions & Products: This is another exciting step in the expansion of Solutions & Products, advancing our Strategy 2025 Accelerating Green Growth. SES has a proven track record of growth and innovation in thermal insulation with a focus on more sustainable solutions, making them highly complementary to our roofing and insulation business. “We look forward to warmly welcoming all SES employees into Holcim and to invest in our next era of growth together, with a continued focus on innovation and sustainability. Holcims commitment to innovation, superior execution and global resources provide an attractive platform from which to continue to deliver profitable growth”, said Charles Valentine, Chief Executive Officer and President of SES. “We are excited about our future together.” Founded in 2009 and based in Spring, Texas, SES has a history of innovation with solutions like SucraSeal®, the first sucrose-based spray foam insulation to be certified by the US Department of Agriculture for its high bio-based content. SES offers superior products that improve buildings energy-efficiency and thermal comfort, while lowering their carbon footprint. The company stands out for its value-added services to contractors, including onsite technical instruction, business consulting, branding and lead generation support. This acquisition advances Holcims Strategy 2025 Accelerating Green Growth with the goal to expand its Solutions & Products business to 30% of Group Net Sales by 2025. It expands Holcims reach in the attractive insulation, as well as repair and refurbishment markets. About Holcim Holcim builds progress for people and the planet. As a global leader in innovative and sustainable building solutions, Holcim is enabling greener cities, smarter infrastructure and improving living standards around the world. With sustainability at the core of its strategy Holcim is becoming a net zero company, with its people and communities at the heart of its success. The company is driving circular construction as a world leader in recycling to build more with less. Holcim is the company behind some of the worlds most trusted brands in the building sector including ACC, Aggregate Industries, Ambuja Cement, Disensa, Geocycle, Holcim, Lafarge and Malarkey Roofing Products. Holcim is 70,000 people around the world who are passionate about building progress for people and the planet through four business segments: Cement, Ready-Mix Concrete, Aggregates and Solutions & Products. Learn more about Holcim on www.holcim.com, and by following us on LinkedIn and Twitter. |
June 21, 2022
BASF Expects Downturn
BASF’s business to face downturn in second half – CEO says
Tue, 21 June 2022 at 12:24 pm·1-min read
FRANKFURT (Reuters) – Chemicals group BASF will be likely to face a considerable downturn early in the second half of the year because inflation will begin to weigh on consumer demand and competitors are expected to reinstate crippled supply chains, its CEO said.
“Speaking for my business, we are able pass along higher prices because there is no arbitrage trade because supply chains don’t work,” Chief Executive Martin Bruedermueller said at a German industry event.
But inflation and, in its wake, lower consumer demand was “knocking on the front door”, he said. He added that rivals would soon be able to improve their supply chains, which are battered by the coronavirus pandemic and global shortages.
“That means no more pricing power and then we will struggle to generate margins on top of the high energy prices. That’s when it gets really difficult,” he added.
(Reporting by Ludwig Burger. Editing by Jane Merriman)
https://uk.finance.yahoo.com/news/basfs-business-face-downturn-second-162417650.html
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