Heraklith acquisition

Knauf Insulation has announced the €230 million acquisition of the Heraklith insulating materials group of companies. The acquisition includes the companies of Izomat, Termo and Termika (including the Nobasil brand) operating mainly in Central and Eastern Europe.

For Knauf Insulation, the purchase represents an important milestone to becoming the leading supplier of insulation products in the growing eastern European market. According to Tony Robson, CEO of Knauf Insulation, ‘the acquisition of Heraklith provides Knauf Insulation with expertise in new markets, applications, sales channels, along with established product brands and innovative manufacturing technology. The Heraklith business infrastructure complements Knauf Insulation's existing insulation investments but will continue to operate independently.'

Knauf Insulation is the fastest growing insulation company in Europe, manufacturing glasswool, stonewool, extruded polystyrene and woodwool boards. In May 2006, Knauf Insulation commenced production of glasswool insulation in Czech Republic from its new €90 million ‘mega' factory. Another glasswool insulation factory near Moscow is scheduled to be commissioned in early 2007. The growing regulatory requirement for improved energy efficiency in buildings and increased consumer awareness of the benefits of insulation is stimulating demand for Knauf Insulation's products across Europe.