Brussels -- Recticel has sold its 50% stake in Kingspan Tarec Industrial Insulation (KTII) to joint venture partner Kingspan for EUR8.5m ($9.6m)
A Recticel press release said KTII realised sales of around EUR31m in 2014.
KTII develops and produces premium performance insulation products for the thermal insulation of pipework in process and petrochemical applications and for the cool truck industry.
It was established when Kingspan and Recticel decided to combine their industrial insulation activities in 2006.
The divestment will enable Recticel to concentrate on its building insulation activities, said the release.
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