Cavan, Republic of Ireland -- Kingspan Insulation, a leading manufacturer of rigid polyurethane insulation materials, has bought Australian insulation company Air-Cell Innovations Pty.
Kingspan said in its 14 Dec announcement that the move is, "part of a programme of expansion, growing its range of insulation technologies and extending the markets for its existing brands. "
The new venture, to be known as Kingspan Insulation Pty, will merge the two brands and allow a wide range of products and expertise to be offered to the Australian market, the group said.
Air-Cell's thin insulation sheeting consists of reflective-coated polymer foam (polyethylene), and the brand will be kept in Kingspan's range. The group said this will add, "a completely new dimension to the scope of products and options available from Kingspan in its traditional markets."
"We are looking forward to offering the Australian market some of the best insulation products available in the global construction industry, providing cutting-edge technology aimed at helping to beat global warming," commented Peter Wilson, managing director of Kingspan Insulation, in the company statement.
According to this statement, Kingspan Insulation has seen "consistent and substantial growth over the past decade," boosted by investment in market development and manufacturing capability and by acquisitions.
Kingspan said that Air-Cell Innovations thermo-reflective insulation products are well established in the Australian market.