Prague — Canadian sprayfoam materials specialist Icynene has launched production here for the growing European market and is considering acquisitions.
The new production facility started up this spring at an existing site in partnership with an unidentified polyol producer. Icynene said it had made the move to meet increased demand during the summer period.
“We chose to start production in the Czech Republic because we wanted to be central in Europe,” explained Bertrand Fauret, head of Icynene in Europe, Middle East and Africa. Icynene did not disclose the size of its project investment nor the plant capacity.
With demand for its European spray foam products now rising rapidly, Icynene expects to supply at least 50% of the regional market from the Prague plant by 2018. The firm has changed its distribution model and today, does 60% of its European business direct.
Meanwhile, the Canadian company, based in Mississauga, Ontario, is already looking forward to new investment and is considering a possible acquisition in a market it believes needs consolidation.
Icynene recently introduced three products to Europe including a new closed-cell spray foam product featuring HFO blowing agent Opteon 1100 from Chemours a low-VOC closed-cell spray foam product and a low-pressure kit for touch-up and repair work.
Its plant uses MDI from global suppliers in Europe. Icynene products are formulated to meet European regulations such as REACH and regional customer needs, the company said.
“Icynene wants to operate in Europe where sales have grown significantly year on year. The size of the business has now justified starting to manufacture products for the European market in the region,” explained Icynene Europe product manager Jan Vimr.
The Icynene production project began two years ago with demand rising at a rate of about 15% /year. It has seen “extraordinary growth” recently and now trades in 15 European countries, doing significant business in 10 of them, according to Fauret.
That compares with moderate business in just four countries out of a presence in six in the region five years ago, he added. His firm is currently building a new European Training Centre at the Czech site.
Icynene already has a licensed contractor, Liko-S with a 720m2 plant in South Moravia, Czech Republic working with clients to develop high-performance prefabricated buildings including Icynene solutions.
